April 10, 2021

China's regulator imposed a fine of 18.23 billion yuan ($2.78 billion) on Chinese e-commerce mammoth, Alibaba for its violation of anti-monopoly laws. The fine, the largest anti-monopoly fine ever rolled out by Chinese authorities, accounts for about 4 percent of the company's domestic sales in 2019.

The State Administration for Market Regulation (SAMR) also released an administrative guidance, urging Alibaba Group to carry out "comprehensive and profound" self-inspections according to the Anti-monopoly Law to inspect and standardize their business operations. 

To improve their internal law compliance system, Alibaba was asked to carry out law compliance trainings of their executives and employees regularly, and to report these relevant proceedings to government authorities.

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https://www.globaltimes.cn/page/202104/1220682.shtml