China is planning to rein in Alibaba, regulators are considering levying a record fine - Shopping News

13/March/2021

Chinese antitrust regulators are considering levying a record fine against Alibaba over anticompetitive practices.

The fine may be the largest in China’s corporate history, according to people with knowledge of the matter — WSJ News Report.

Those people said Alibaba also will be required to end a practice that has been dubbed “er xuan yi”—literally, “choose one out of two”.

The regulators are claiming that, the tech giant is 'punishing' certain merchants who sold goods both on Alibaba and its rival platforms, including JD.

Shares of Alibaba, which are listed in New York and Hong Kong, have lost more than $200 billion—roughly one-quarter of their market value—since the regulatory onslaught against Mr. Jack Ma’s empire began late last year... wsj.com