Alibaba: Chinese Slaps regulator Huge fine in giant tech Published 1 day agosharecloshare pagecopy Linkabout SharingImage CopyrightGage Images

The largest online retailer in the world, the Alibaba of China, has been beaten with a record of mint equivalent to $ 2.75 billion (little more than £ 2 billion).

In a statement, the company said that it accepted the ruling and "would guarantee compliance".

analysts say that the fine show that China intends to move against the Internet platforms that believes is too big.

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    Although it is not known outside of China, within the country, Alibaba is always a giant present, Robin Brant reports of Shanghai BBC.

    The company is China Amazon, meets eBay, our correspondent says. The retail is your main activity, but your work has been extended to digital payments, credit and cloud computing.

    The fine amounts to 4% of Alibaba's revenues in 2019.

    Regulators say that Alibaba restricted the competition by stopping some sellers using other platforms.

    is the latest in a chain of events aimed at the company that started last October, just after its high profile co-founder, Jack Ma, told a meeting of China's main regulators who were suffocating the Innovation. .

    Jack MA is known in China as one of the most successful entrepreneurs in the country.

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    "This penalty will be seen as a closure to the anti-monopoly case for now by the market," said Hong Hao, Chief of Research in Bocom International in Hong Kong, told Reuters News Agency.

    "is, in fact, the highest profile anti-monopoly case in China. The market has been anticipating some kind of penalty for some time ... but people need to pay attention to the measures beyond of the anti-connect research ".

    The other country in the country. The technological giants are also coming under a growing pressure of the regulators concerned about their growing influence.

    Last month 12 companies were fined about the agreements that violated the ant I-monopoly rules. Companies included Tencent, Baidu, Didi Chuxing, Softbank and a firm with Bytencia backing.

    You may also be interested in: Media Captionwhat makes China applications of social networks so unique?

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