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Reuters
The Wall Street Journal, citing informed sources, reported that China’s antitrust authority is planning to impose the largest fine in the history of Chinese companies on the Chinese e-commerce giant, Alibaba.
According to the newspaper, the fine will exceed the $ 975 million fine paid by Qualcomm in 2015, at which time the US company was accused of unfair competition.
At the end of 2020, the China Market Supervision and Regulatory Authority launched an investigation against “Alibaba” over monopolistic practices. For its part, the company expressed its willingness to cooperate effectively with the authorities.
Alibaba is the largest Internet company in China, working in the field of e-commerce since 1999, and the group owns various e-commerce platforms such as Alibaba Express, Tabao and Tamal.
Source: Novosti
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