The PRC Market Control Department was fined the Alibaba company to the largest amount in the country’s history – 18.22 billion yuan ($ 2.78 billion) for violation of antitrust laws. This is stated in the statement of the regulator, reports TASS.
The investigation confirmed that Alibaba conducted a policy forcing the consumer to use its services “without the right to choose.”
“It was decided to finish Alibaba in connection with the violation of the Monopoly Act. This company should terminate the violating national legislation, the amount of the fine will be four percent of its sales in 2019 in China, which amounted to 455.71 billion yuan (69 , 67 billion dollars at the current course). Thus, Alibaba should pay $ 18.22 billion ($ 2.78 billion), “the statement says.
According to the regulator, the company’s actions have negatively affected the competition environment of the Chinese e-commerce market.
Chinese Internet giant recognized the correctness of the decision of the PRC authorities to recover a fine, placing the appropriate application on its website.
In March, China’s authorities inflicted a new blow to the founder and the owner of Alibaba Jack MA, deleting the Browser-developed browser from several local application stores. Also, China’s antitrust authorities wanted to appoint a Alibaba a fine for the largest country in the history of the country – more than $ 975 million.
The conflict between Jack Ma and China’s authorities began last year after the businessman criticized the government policy in the field of digital technology. After that, the authorities blocked the IPO (Exit to the Exchange) of the AT Group’s subsidiary’s financial company, and then forced to transform her business, giving more control to the state.