Alibaba's Tmall, JD.com fined in China over pricing

Wednesday, 30. December 2020 13:38

Chinese government's State Administration for Market Regulation (SAMR) announced on Wednesday it fined Alibaba Group Holding Limited-owned Tmall, along with JD.com Inc. and Vipshop Holdings Ltd. 500,000 yuan (slightly over $76,500) each due to alleged irregularities in pricing.

After receiving consumer complaints about the companies' pricing during the Singles' Day shopping event, the Chinese market watchdog said in a statement it decided to take action.

The SAMR revealed last week it launched a new anti-monopoly investigation into Alibaba and Ant Group.

Related Links: JD.com Inc.Alibaba Group Holding Ltd.
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Breaking the News / MS