The sanction imposed for abuse of a dominant position – LaPresse /Courier TV
(LaPresse) The Chinese authorities have imposed a maxi-fine of 2.8 billion dollars on the e-commerce giant Alibaba for abuse of dominant position. The sanction follows the investigation launched against the company last December. Alibaba, founded in 1999, is the largest e-commerce company in the world. The fine amounted to 4% of its total 2019 sales of $ 69.5 billion. The Communist Party of China has long since tightened control over the rapidly growing technology industries.