Alibaba fined US$2.8 billion for antitrust actions

Hangzhou, 10th April: Last week, the Alibaba Group, was fined by China’s State Administration for Market Regulation RMB 18.2 billion (US$2.8 billion) for antitrust activities in China. The company, perhaps wisely, does not plan to appeal the antitrust fine.

According to China’s State Administration for Market Regulation, the investigation concluded that Alibaba’s behaviour eliminated and restricted competition in China’s e-commerce market and “hindered the free circulation of commodity services and resources elements.”