,China has denied that it is considering to fine Alibaba nearly US$1 billion over monopolistic practices. – EPA pic, March 12, 2021. CHINA denied today it was planning to hit e-commerce giant Alibaba with a fine of almost US$1 billion (RM4.1 billion) for allegedly flouting monopoly rules, as authorities put the screws on the firm as part of a crackdown on the technology sector.Officials are considering a hefty penalty that could top the US$975 million paid by US chipmaker Qualcomm in 2015 – the biggest known for anticompetitive practices in China – the Wall Street Journal reported yesterday, citing unnamed “people with knowledge of the matter”.
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