0155 GMT December 02, 2021
The Xinhua news agency reported on Saturday the state administration for market regulation had assessed the fine after concluding an investigation into Alibaba that began in December.
The investigation and fine centered on Alibaba’s alleged practice of requiring its member merchants to sell exclusively on its platforms.
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The size of the penalty was reportedly determined after regulators decided to fine Alibaba to the value of four percent of its 2019 sales.