China fines Alibaba founder $ 2.75 billion for criticizing him

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I applied antitrust law to his company


China imposed a record fine of 18 billion yuan ($ 2.75 billion) on Alibaba Group Holdings Limited today (Saturday), after an antitrust investigation found that the e-commerce giant had abused its dominant market position for several years.

The fine, which amounts to about 4% of Alibaba’s domestic revenues for the year 2019, comes amid a crackdown on technology conglomerates … and indicates that China’s anti-monopoly application on Internet platforms has entered a new era after years of laissez-faire approach. According to “Reuters”.

The business empire, Alibaba, has come under intense scrutiny in China since its billionaire founder, Jack Ma, publicly criticized the country’s regulatory system in October.

A month later, the authorities thwarted a planned $ 37 billion initial public offering by Ant Group, Alibaba’s online financial arm, which was to be the largest in the world ever, and the State Administration for Market Regulation announced its antitrust investigation in The company in December.

This penalty will be seen as closing the antitrust case for the time being by the market.

China fines Alibaba founder $ 2.75 billion for criticizing its regime

Previously

China imposed a record fine of 18 billion yuan ($ 2.75 billion) on Alibaba Group Holdings Limited today (Saturday), after an antitrust investigation found that the e-commerce giant had abused its dominant market position for several years.

The fine, which amounts to about 4% of Alibaba’s domestic revenues for the year 2019, comes amid a crackdown on technology conglomerates … and indicates that China’s anti-monopoly application on Internet platforms has entered a new era after years of laissez-faire approach. According to “Reuters”.

The business empire, Alibaba, has come under intense scrutiny in China since its billionaire founder, Jack Ma, publicly criticized the country’s regulatory system in October.

A month later, the authorities thwarted a planned $ 37 billion initial public offering by Ant Group, Alibaba’s online financial arm, which was to be the largest in the world ever, and the State Administration for Market Regulation announced its antitrust investigation in The company in December.

This penalty will be seen as closing the antitrust case for the time being by the market.

April 10, 2021 – Shaaban 28, 1442

04:37 PM


I applied antitrust law to his company

China imposed a record fine of 18 billion yuan ($ 2.75 billion) on Alibaba Group Holdings Limited today (Saturday), after an antitrust investigation found that the e-commerce giant had abused its dominant market position for several years.

The fine, which amounts to about 4% of Alibaba’s domestic revenues for the year 2019, comes amid a crackdown on technology conglomerates … and indicates that China’s anti-monopoly application on Internet platforms has entered a new era after years of laissez-faire approach. According to “Reuters”.

The business empire, Alibaba, has come under intense scrutiny in China since its billionaire founder, Jack Ma, publicly criticized the country’s regulatory system in October.

A month later, the authorities thwarted a planned $ 37 billion initial public offering by Ant Group, Alibaba’s online financial arm, which was to be the largest in the world ever, and the State Administration for Market Regulation announced its antitrust investigation in The company in December.

This penalty will be seen as closing the antitrust case for the time being by the market.





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