Jakarta, CNN Indonesia –
Alibaba Group open question vote fine 18 billion yuan or equivalent to Rp. 40.49 trillion that the government dropped China against them for alleged violations of anti-monopoly rules.
Alibaba Group Co-Founder and Executive Vice Chairman Joe Tsai told CNN that the company will not appeal the biggest fine in history.
“With this sentencing decision, we have received good guidance on some specific issues regarding anti-monopoly law,” Tsai said.
He also promised Alibaba Group to stop the practice of this exclusive agreement.
“We are happy we can forget about this problem,” he added.
For information, China punished Alibaba with a fine of IDR 40 trillion after the results of their investigation by the State Administration for Market Regulation (SMAR) found that Alibaba had been urging clients not to do business with their competitors in the market since 2015. .
This finding violates anti-monopoly rules and the circulation of free goods in China.
If calculated, the fine is equivalent to 4 percent of Alibaba’s sales in 2019 in China. The investigation process itself went on for months.
The Chinese government is also investigating other big tech companies, including Alibaba’s financial affiliate, Ant Group.
Tsai said the sentence had not made up 20 percent of Alibaba’s cash flow in the past 12 months. Separately, CEO Daniel Zhang added that changing agreements with merchants at Alibaba would not have a major impact on the company’s business.
After the announcement of the fine, Alibaba’s shares rose more than 6 percent on Monday (13/4) yesterday. Although, its share price is still more than 20 percent lower than last November, because Chinese regulators postponed Ant Group’s Initial Public Offering (IPO) plan.
Alibaba is one of the leading business groups in the technology sector in China. This group was founded by Jack Ma.
However, company shares have slumped since the Chinese government tightened its controls on companies. This is a crackdown by President Xi Jinping as one of the country’s top priorities in 2021 which he claims is aimed at maintaining social stability.
Currently, Jack Ma himself is disappearing from the public after delivering harsh criticism of the Chinese government. However, a report states that the billionaire has not disappeared. CNBC journalist David Faber reported on Tuesday, citing a source close to Ma.
Jack Ma is said to have deliberately not appeared to the public. Faber said Ma was deliberately not visible to the public, but he did not disappear.
(ulf / agt)
– .
