According to the regulator’s statement, since 2015, Alibaba has abused its market power, compelling ecommerce merchants using its platform to refrain from taking part in promotional activities on other ecommerce platforms.
The Chinese government has fined technology giant Alibaba Group RMB18.2 billion yuan ($3.73 billion), according to a statement posted on the website of China’s State Administration for Market Regulation.
The penalty is equivalent to around 4% of its domestic sales of RMB455.7 billion in 2019.
