Antitrust Alibaba Forced Record Fine Euros Given Alibaba

E-commerce china imposes a record fine on alibaba.Israel Phone Number List The chinese technology sector is becoming too powerful according. To local authorities. Beijing therefore decides to tap on the fingers of. These digital giants who take advantage of chinese legislation. Which is too lax in terms of competition, protection of personal data and payment. Via the internet. The fine of 2.3 billion. Israel Phone Number ListEuros given to alibaba after four. Months of investigation, the chinese authorities. Imposed a heavy fine of 2.3 billion euros (18 billion yuan. On the giant of online commerce alibaba. This sum corresponds to 4% of the turnover. Achieved in 2019 by the firm in its country of origin. Indeed it is accused of taking advantage of its leading position in the chinese.

Reduce the Influence of the Digital Giants,

Correspondingly. Market to resort to unfair commercial practices . Israel Phone Number List Namely, that among others Alibaba requires its sellers to sell exclusively on its platform. To the detriment of competing sites like amazon and to the detriment of customers. Who do not benefit from a competitive market. According to the china cyberspace administration (cac. Unfair competition “Is a brake on innovation and .Development and harms the interests of consumers”. A penalty for example after the fine issued. To alibaba by the market regulation authority (samr) on april 10. In the first place. It is the turn of the other powerful ones. Indeed, the cac, the samr and the.

Currently Too Powerful. Take Back the Economy

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Correspondingly. Tax administration held a meeting to .Issue an ultimatum to 34 digital companies . These companies have one month to. Correct their faults of unfair competitive practices under.Correspondingly.  Penalty of “Heavy penalties”. In the first place. There are the bat, in addition to Alibaba, the internet giants abide. Tencent with WeChat byte dance owner of titoki.Correspondingly.  But also meatman which offers a whole range of services ranging. Israel Phone Number List From meal delivery to ticket reservations. Movie theater. A threat to the Chinese government according to Larry Ong. Analyst at Sino insider, the digital giants’ monopoly situation “Poses immense .Financial and political risks to the regime” in the run-up to th.E 20th communist party congress in 2022. The competent authorities therefore want

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