Alibaba said in a statement on the Weibo social network that it had “accepted” the authority’s decision and complied with it. The fine represents about four percent of the company’s revenues for 2019.
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The State Market Regulatory Authority stated that an investigation launched in December concluded that Alibaba had “abused its dominant market position” since 2015. It prevented companies that sold goods through it from using other internet sales platforms. The Office further stated that the internet seller violates the antitrust law by preventing the free circulation of goods and violating the business interests of the sellers.
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Jack Ma under pressure
Alibaba and its financial subsidiary Ant Group have been in the sights of the Beijing authorities since last autumn. At that time, the authorities prevented the online subsidiary Ant Group from entering online. How Ma wanted the rules for technology companies and not for banking to apply to her.
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Jack Ma then publicly criticized China’s financial regulatory system, which he said is a legacy of the industrial age and stifles innovation. However, the authorities feared that the stability of the financial system would be threatened.
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At that time, an investigation into Alibaba for antitrust violations was also launched.
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Jack Ma has not been seen for a quarter of a year since his speech, he did not appear until January
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