Alibaba antitrust investigation: Beijing slaps e-commerce giant with record US$2.8 billion fine

Apr 10, 2021 | INVESTING

Chinese regulators on Saturday slapped a record fine of 18.2 billion yuan (US$2.8 billion) on e-commerce giant Alibaba Group Holding, closing a months-long antitrust investigation that was initiated on Christmas Eve last year.The fine imposed by the State Administration for Market Regulation (SAMR) was more than double the previous record of 6.1 billion yuan paid by Qualcomm, the world’s largest supplier of mobile chips, in 2015.The fine on Alibaba, the parent company of the South China Morning…

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