What did Alibaba get fined for?

The penalty is the biggest move to date in China’s campaign to tighten supervision of its internet Goliaths. By hitting the e-commerce titan Alibaba with a record $2.8 billion antitrust fine on Saturday, Chinese officials sent a message to the country’s high-flying internet industry: We’ve got our eyes on you.

What Chinese retailer was hit with a large anti trust fine WSJ?

SINGAPORE—Chinese food-delivery giant Meituan was fined more than $533 million on Friday for engaging in anticompetitive practices, the latest move by Beijing in a yearlong regulatory crackdown aimed at reining in the country’s powerful tech companies.

Do they play Monopoly in China?

Hong Kong Monopoly is an edition of the popular board game Monopoly. The Chinese game name called “財源廣進”, and an updated version from Parker Brothers/Kenner Parker Toys LTD. was released in 1973. The name called “大富翁”.

Can I trust Alibaba com?

Alibaba is absolutely safe and legit. Alibaba is trusted and reputable. They have strict rules and regulations that keep most of the transactions secure on the platform. However, Alibaba is just an ecommerce platform that connects suppliers with buyers.

Who is Alibaba’s Jack Ma?

Jack Ma, former chairman of Alibaba Group, appears at a forum in Tokyo, Japan, on December 6, 2019. Alibaba Group was hit with the highest-ever antitrust penalty imposed in China when the country’s regulator announced on Saturday that it had slapped a fine of 18.2 billion yuan ($2.8 billion) on the Hangzhou-based tech giant.

Why did Chinese regulators slap a $2 billion fine on Alibaba?

Something went wrong. Please try again later. Chinese regulators have slapped a $2.75 billion dollar fine on Alibaba. The ecommerce group, founded by Jack Ma, is accused of violating anti-monopoly rules and abusing its dominant market position.

What’s behind Alibaba’s huge fine?

Retail is its main activity but its work has spread to digital payments, credit and cloud computing. The fine amounts to 4\% of Alibaba’s revenue in 2019. Regulators say Alibaba restricted competition by stopping some sellers using other platforms.

Is Alibaba stifling competition by restricting competition?

Regulators say Alibaba restricted competition by stopping some sellers using other platforms. It is the latest in a chain of events targeting the company that kicked off last October, just after its high-profile co-founder, Jack Ma, told a gathering of China’s leading regulators that they were stifling innovation.