On April 10th, the official Chinese Communist Party media CCTV reported that Alibaba was fined 18.228 billion!
The report stated, “In December 2020, the General Administration of Market Supervision opened a case against Alibaba Group Holdings Limited (hereinafter referred to as Alibaba Group) for abusing its dominant market position in the online retail platform services market within China in accordance with the Anti-Monopoly Law.”
According to the report, “Since 2015, Alibaba Group has abused its dominant market position by imposing “two-for-one” requirements on merchants on its platform, prohibiting them from opening stores or participating in promotional activities on other competing platforms, and resorting to market forces, platform rules and technical means such as data and algorithms to The Company shall adopt various incentives and penalties to ensure the implementation of the “two-for-one” requirement, maintain and enhance its market power, and obtain unfair competitive advantage.”
“On April 10, 2021, the General Administration of Market Supervision made an administrative penalty decision in accordance with the law, ordering Alibaba Group to stop the illegal acts and imposing a fine of 4% of its 2019 sales of 457.512 billion yuan in China, totaling 18.228 billion yuan. “
At the same time, an Administrative Guidance Letter was issued to Alibaba Group, requiring it to “carry out comprehensive rectification and submit a self-examination compliance report to the AQMS for three consecutive years.”
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