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Alibaba says to lower entry barriers, business costs of merchants

Reuters2021-04-12

SHANGHAI, April 12 (Reuters) - Alibaba Group will introduce measures to lower entry barriers and business costs faced by merchants on e-commerce platforms, CEO Daniel Zhang said on Monday, after an antitrust probe found the firm had abused its dominant market position.

China on Saturday imposed a record 18 billion yuan ($2.75 billion) fine on Alibaba amid a crackdown on technology conglomerates, signalling a new era after years of laissez-faire approach.

The e-commerce giant has come under intense scrutiny since billionaire founder Jack Ma's public criticism of the Chinese regulatory system in October.

The State Administration for Market Regulation $(SAMR.SI)$ said it had determined Alibaba, which is listed in New York and Hong Kong, had prevented its merchants from using other online e-commerce platforms.

The group does not expect any material impact on its business from the change of exclusivity arrangement imposed by regulators, Zhang said in an online briefing.

Alibaba and its peers remain under review for mergers and acquisitions from the market regulator, Vice Chairman Joe Tsai told the briefing, adding he was not aware of any other anti-monopoly-related investigations.

The impact of the regulator's fine on Alibaba will be reflected in the group's net income in the March quarter, Chief Financial Officer Maggie Wu said.

($1 = 6.5522 Chinese yuan)

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Comment65

  • UTOtrader
    ·2021-04-12
    Get discipline by the authority, sell take profit$
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  • DesmondChin
    ·2021-04-12
    Good, reduce the uncertainties and follow the rules
    Reply
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  • WeiweiWei
    ·2021-04-12
    Can go for Alibaba? 
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    • Jon777
      Yes
      2021-04-12
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  • kid26
    ·2021-04-12
    Great that alibaba is complying to the law. Hope the stock price will recover
    Reply
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  • ctanya
    ·2021-04-12
    Usually after lawsuit clears, price will go up. Market hates uncertainty. Now there's less uncertainty $Alibaba(BABA)$$Alibaba(09988)$
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  • Silverlitz
    ·2021-04-12
    Hope Baba can put this anti competition episodebehind them now
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  • JackOATrades
    ·2021-04-12
    Reallly ?
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  • AndyQuak
    ·2021-04-12
    Please like n comment Have a nice day 
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    • HermanL
      nice..pls like n comment too
      2021-04-12
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  • 4ZOEYS
    ·2021-04-12
    Price will drop again for $Alibaba(BABA)$
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  • Yifeishan
    ·2021-04-12
    L&C pls :)
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  • YNWA07
    ·2021-04-12
    Good news for all
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  • ccgcc
    ·2021-04-12
    Go go BABA
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  • ngchris
    ·2021-04-12
    Great.
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    • MayTan
      Yes,good news.
      2021-04-12
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  • TK360
    ·2021-04-12
    Good to see more dominant companieopen up to lower business cost with fair competition. 
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  • HiddenDragon
    ·2021-04-12
    Now alibaba can focus, up up up
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  • Alexi5
    ·2021-04-12
    Great move by BABA!
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  • YongYufei
    ·2021-04-12
    Reply n like pls 
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    • YongYufei
      Okie thanKs
      2021-04-12
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    • YongYufei
      Thanks
      2021-04-12
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    • Venus888
      done. pls comment back. thanks
      2021-04-12
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  • kuehlapis
    ·2021-04-12
    let's go! [勝利] 
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  • mistyzenz
    ·2021-04-12
    seem like price increase after hearing the news....amounts to a pinch to Alibaba
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  • DanielSiah
    ·2021-04-12
    Good.  Going to up, up, up!! 
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    • 幸运无畏虎
      沉默不语,但仍奋力前行
      2021-05-13
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