Alibaba latest big tech to face antitrust actions

Theasianbankersg10 May, 2021Finance

During the investigation, Alibaba once challenged its position of monopoly. SAMR addressed that by disclosing the market share of the company for both gross merchandise value (GMV) and fee income among the top 10 online marketplaces in China since 2015. The data showed that the company accounted for around 70% of GMV and 80% of fee income in the sector. On 10 April, Alibaba issued a press release indicating that the company has no objection to the decision made by SAMR and will further have compliance and CSR in place in their day-to-day operation.