Alibaba: Antitrust fine won't have significant impact

Monday, 12. April 2021 03:45

Alibaba Group Holding Ltd. CEO Daniel Zhang said on Monday that he does not expect the $2.77 billion antitrust fine imposed on his company by the Chinese market regulator will have a "significant impact" on Alibaba. Speaking at a press conference, he said the e-commerce giant will lower barriers and costs of entry for merchants on its platform, and that it "has set aside billions of yuan to support new projects."

Zhang assured Alibaba will cooperate with authorities on any possible investigation concerning the collection and use of customers' data, as "regulators are concerned about data privacy and protection." However, he added he is not aware of any further antitrust probes aimed at his company.

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