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Reuters
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The Wall Street Journal, citing informed sources, reported that the Chinese antitrust authority is planning to impose the largest fine in Chinese business history on Chinese e-commerce giant Alibaba.
According to the newspaper, the fine will exceed the $ 975 million fine paid by Qualcomm in 2015, when the US company was accused of unfair competition.
At the end of 2020, the Chinese Market Supervisory and Regulatory Authority launched an investigation against “Alibaba” for monopoly practices. For its part, the company has expressed its willingness to cooperate effectively with the authorities.
Alibaba is the largest internet company in China operating in e-commerce field since 1999, and the group owns various e-commerce platforms such as Alibaba Express, Tabao and Tamal.
Source: Novosti
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