Jack Ma Is In Trouble Again | Alibaba fined 18.2 billion

On April 10th, China’s State Administration for Market Regulation issued a fine of RMB billion ( Billion USD) to Alibaba, the largest fine since China implemented the Anti-Monopoly Law in 2008. The official move means that Alibaba’s past days of aggressive expansion in China, or official support, are over. The report also alleges that Alibaba abused its dominant position in the market for e-tailing platform services by prohibiting or restricting merchants on the platform from opening stores on other platforms, limiting market competition, infringing on the legitimate rights of merchants on the platform and harming consumer interests. Alibaba again chose to accept rather than defend itself, as it did last year in the face of accusations from Chinese officials. Alibaba said in an announcement on April 10 that it “sincerely accepts and firmly obeys this penalty,“ and that “sound government regulation and services have been key to Alibaba’s growth to date, for which we