Alibaba receives record $2.8 billion fines from Chinese authorities

The largest online retailer Alibaba has received the largest fine in the company’s history of $ 2.8 billion. As it turned out after an investigation began in December, the company violated Chinese antitrust laws.

According to the investigation, the Chinese authorities have found that Alibaba is using advertising algorithms and other software tools in order to prevent other companies from listing and selling their products on other platforms. According to the Chinese Antimonopoly Service, their competition policy exploited “unaffordable competitive advantages.”

Alibaba executives say: “We will continue to focus on customer care, and we will continue to develop measures that reduce the barriers to entry and the cost of maintaining stores on our site.”

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Author: John Kessler
Graduated From the Massachusetts Institute of Technology. Previously, worked in various little-known media. Currently is an expert, editor and developer of Free News.
Function: Director

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