Record Alibaba Fine Shows China’s Big Tech Can’t Fight Back

The $2.8 billion penalty allows e-commerce giant to move on
Beijing will tighten oversight of its tech sector longer term

WATCH: Alibaba Group Holding Ltd. has taken the unusual step of thanking Chinese regulators after the record $2.8 billion fine for abusing its market dominance. (Source: Bloomberg)

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By Coco Liu

April 11, 2021 at 12:23 PM UTC

Updated on

April 12, 2021 at 6:28 AM UTC

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After China imposed a record antitrust fine on Alibaba Group Holding Ltd., the e-commerce giant did an unusual thing: It thanked regulators.