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Alibaba is Fined $2.8 Billion By China in Monopolies Probe

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variety.com

Patrick Frater Asia Bureau ChiefChina’s e-commerce and entertainment industry giant Alibaba Group has been hit with a fine of RMB18.23 billion ($2.8 billion) for alleged monopoly activities.The record punishment was announced Saturday morning local time by China’s State Administration for Market Regulation, which accused Alibaba of abusing its market dominance.The SAMR opened a formal investigation into the company on Dec.

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