Alibaba share price sinks after fine by Chinese regulator over anti-monopoly rules: Key things to know

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Alibaba share price sank 9% on Monday after a Chinese regulator fined the company for failing to comply with certain norms. 

Alibaba stock price: Why did the Chinese regulator impose a fine?

China's State Administration for Market Regulation (SAMR) imposed fines on technology giants Alibaba Group Holdings and Tencent Holdings, among other firms, for failing to comply with its anti-monopoly rules on the disclosure of transactions. The Chinese market regulator released a list of 28 deals that violated the rules, out of which five cases involved units of Alibaba. This also includes the 2021 transaction for the purchase of equity in its subsidiary, the Youku Tudou streaming platform. Chinese government has been targeting top tech giants to check their dominant market positionings. The crackdown has resulted in billions being wiped away from the market capitalizations of big techs.

Alibaba latest news: How much has Alibaba been fined?

The regulator imposed a fine of 2.5 million yuan ($372,567), while Tencent was fined a cumulative 6 million yuan ($896,245) over 12 acquisitions.

  • What happened to Aliaba share price?

  • What norms did Alibaba flout?

  • How much was Alibaba fined?

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