CHINA-ECONOMY: CHINA IMPOSES HEAVIEST YET FINE ON TECH GIANT ALIBABA

The Chinese authorities imposed a record $2.8 billion antitrust fine on e-commerce titan Alibaba on April 10. It was the biggest move yet in the government’s campaign to tighten its supervision of Big Tech. A People's Daily commentary published a minute after imposition of the fine was announced, called the regulation “a kind of love and care.” It said “Monopoly is the great enemy of the market economy” and added “There is no contradiction between regulating under the law and supporting development. Rather, they complement each other and are mutually reinforcing.”







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