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59167 CS#ALIBARP2109A (R BEAR)
RT Nominal down0.217 -0.005 (-2.252%)

12/04/2021 09:25

SAMR imposes RMB18.228 billion fine on Alibaba (09988)

[ET Net News Agency, 12 April 2021] The State Administration for Market Regulation of
the People's Republic of China (SAMR) has issued an Administrative Penalty Decision of the
Anti-Monopoly Investigation into Alibaba Group (09988).
In the decision, the SAMR found that Alibaba Group had violated Article 17(4) of the
Anti-Monopoly Law of the People's Republic of China. Article 17(4) of the Anti-Monopoly
Law states that a business operator that has a dominant market position is prohibited from
restricting business counterparties through exclusive arrangements without justifiable
cause.
The SAMR ordered Alibaba Group to cease violating acts and imposed on Alibaba Group a
fine of RMB18.228 billion (approximately US$2.8 billion), or 4% of Alibaba Group's revenue
of RMB455.712 billion (approximately US$69.6 billion) generated in the calendar year of
2019 in China.
Alibaba said it accepts the penalty with sincerity and will ensure compliance with
determination. (RC)

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