Financial News

China fines Alibaba record US$2.75 billion for anti-monopoly violations

SHANGHAI: Chinese regulators have fined Alibaba Group Holding 18 billion yuan (US$2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever anti-trust fine to be imposed in the country. The penalty, equivalent to around 4 per cent of …

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