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China hits Alibaba with record $2.8 billion fine for behaving like a monopoly | CNN Business
MarketsFeaturedFear & Greed IndexLatestBy and , CNN BusinessLink Copied!Ad Feedback — China has ordered to pay a record fine of 18.2 billion yuan ($2.8 billion) after concluded that the online shopping giant had been behaving like a monopoly.Chinese state media reported Saturday that the State Administration for Market Regulation had imposed the penalty following an antitrust investigation into Alibaba’s“exclusive dealing agreements” that prevented merchants from selling products on rival e-commerce platforms — a practice known as “choosing one from two.”The fine is equivalent...…MarketsFeaturedFear & Greed IndexLatestBy and , CNN BusinessLink Copied!Ad Feedback — China has ordered to pay a record fine of 18.2 billion yuan ($2.8 billion) after concluded that the online shopping giant had been behaving like a monopoly.Chinese state media reported Saturday that the State Administration for Market Regulation had imposed the penalty following an antitrust investigation into Alibaba’s“exclusive dealing agreements” that prevented merchants from selling products on rival e-commerce platforms — a practice known as “choosing one from two.”The fine is equivalent...WW…
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