China’s big tech ‘rectification’ continues after Alibaba record fine


Alibaba’s massive fine is only the start of Beijing's plan to reverse monopolistic positions taken by China's tech giants, say analysts. — AP

A record fine, public penitence from a tech giant and a ‘who’s who’ of digital firms warned to “rectify” their ambitions within a month – state regulators are showing no one is bigger than Beijing in Xi Jinping’s China.

E-commerce titan Alibaba absorbed the massive US$2.78 bil (RM11.47bil) penalty from China's market watchdog last Saturday, after a months-long investigation found it had been abusing its dominant market position.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

How 'CoComelon' became a mass media juggernaut for preschoolers
Evolution of smartphone damage: From drips to drops
Are you tracking your health with a device? Here's what could happen with the data
US judge rejects SEC bid to sanction Elon Musk
What's really happening when you agree to a website's terms of service
Samsung ordered to pay $118 million for infringing Netlist patents
Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with another $4 billion
Factbox-Who are bankrupt Northvolt's creditors?

Others Also Read