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Penalties for Alibaba

14 December 2020
1756
1 min.
1
Penalties for Alibaba

Alibaba's company has been fined by Chinese regulators for failing to notify authorities of past acquisitions.
In general, the fines for such a company are small and will not cause significant material damage, except for the fact that the company's shares fell by 2%.


In this situation, one can trace Beijing's policy towards the country's tech-giants, which is becoming much tougher. Over the past years, many tech firms have grown into giants and active market players in China, becoming indispensable in life, but at the same time passing through the development without the burdens that other companies face.


The Chinese Market Regulatory Authority has developed codes of practice for large internet platforms aimed at anti-monopoly activities and maintaining a competitive market.

So far, according to the market administration, the activities of the companies do not go beyond the framework of the anti-monopoly law, however, the companies have not provided properly executed documents in accordance with this law, and this has incurred fines.

Companies1 in the news

Alibaba Group
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