• PYMNTS
• 11 Apr, 2021

Chinese authorities have fined Alibaba $2.75 billion for alleged antitrust violations, Reuters and other news agencies reported. The fine, according to Reuters, equals about 4 percent of Alibaba’s 2019 domestic revenue and allegedly came in response to several years of market-power abuses, especially refusing to let some merchants it worked with also work with other eCommerce companies.
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