Alibaba headquarters. Reuters
Beijing’s antitrust regulators are considering levying a record fine against Alibaba, people with knowledge of the matter have told The Wall Street Journal.
The newspaper reported it would likely exceed the $975 million paid by Qualcomm in 2015 over anticompetitive practices, so far the largest in China’s corporate history.
Alibaba will also be required to end its alleged long-running practice of coercing merchants to list products exclusively on its platforms, by punishing those that sold goods on other platforms, such as rival JD.com, the report said.
Once final, Alibaba’s penalties would need to be approved by China’s top leadership.
Representatives for Alibaba declined to comment on The Wall Street Journal report and China’s top market regulator, the State Administration for Market Regulation, didn’t respond to requests for comment.