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With US politicians “desperate” to show internet monopolies Google, Facebook and Amazon just who is boss – if purely for brownie points with their constituents but terrified to actually do so in real life, China overnight showed how it’s done when Xi’s regime escalated his ongoing crusade against China’s richest man, Jack Ma, byt imposing a massive fine of 18.2 billion yuan, equivalent to $2.8 billion, against Alibaba Group for abusing its dominant position over rivals and merchants on its e-commerce platforms, a record penalty in the country that comes amid a wave of scrutiny on the business empire of company founder Jack Ma.
China’s State Administration for Market Regulation said Saturday in Beijing that Alibaba punished certain merchants who sold goods both on Alibaba and on rival platforms, a practice that it dubbed “er xuan yi”—literally, “choose one out of two.”
Alibaba’s business practices limited competition, affected innovation, infringed on the rights of merchants and harmed the interests of consumers, the regulator said.
The punishment was announced less than four months after China’s top regulator launched an antitrust probe into Alibaba, focusing on vendor claims that Alibaba pressured them into selling exclusively on its e-commerce platform. It is the harshest rebuke yet against the company, though it also removes some uncertainty over the company’s future.
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