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Anti- Monopoly: Fines For Alibaba, Tencent
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Anti- Monopoly: Fines For Alibaba, Tencent
preview: executive summary
Chinese regulators have hit Alibaba with a record fine of 18 billion yuan (about $2.75 billion) for violating anti-monopoly rules as the country seeks to rein in the power of its largest internet conglomerates. The fine amounts to about 4% of the company's 2019 domestic revenue.
The increasing number of reports on platform monopoly issues indicate that there are some competition risks and hidden dangers in the development of the online economy.
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