[ad_1]
Chinese regulators have hit e-commerce giant Alibaba with a massive 18.2 billion yuan ($2.78 billion) fine over practices deemed to be an abuse of the company’s dominant market position, state-run media reported on Saturday.
Xinhua news agency said the State Administration for Market Regulation had assessed the fine after concluding an investigation into Alibaba that began in December.
For all the latest headlines follow our Google News channel online or via the app.
-Developing
Read more:
China halts new enrollments at business school backed by Alibaba founder Jack Ma
Jack Ma makes first public reappearance in three months, Alibaba stocks soar
Jack Ma loses title as China’s richest man after coming under Beijing’s scrutiny
[ad_2]
Source link
