Chinese authority fines Alibaba with a record $2.8 billion antitrust fine
China’s antitrust body has imposed on Alibaba the most expensive penalty for having implemented anticompetitive business practices. The fine represents four percent of Alibaba’s domestic sales in 2019, according to the New York Times. The authority investigated Alibaba for having breached antitrust laws by preventing third-party businesses from selling their goods on other platforms. The investigations concluded that Alibaba indeed practiced exclusionary requirements that ultimately harmed competition in online shopping. Alibaba will have to stop its anticompetitive behavior and submit reports on its compliance for the next three years.