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How does China face a monopoly?

China facing a monopoly
China facing a monopoly
China is facing a monopoly by confronting the giant technology companies in China, where the screws are tightening on them. The companies were not spared from the sanctions imposed by the United States recently, because the Market Regulatory Authority in China announced the imposition of fines on 12 companies related to ten deals that showed illegal monopolistic behavior.
Among the most important companies that have been charged with a monopoly are the following:
  1. Tencent, a Chinese tech giant.
  2. ByteDance Corporation.
  3. Baidu Corporation.
  4. Ant Group, the owner of the Alibaba Group.
Perhaps the most prominent company that is still under surveillance by the Chinese government is the Ant Group, the owner of Alibaba, where the company announced a set of rules of financial self-discipline amid intense monitoring of its activities.
For your information, the initial subscription of the company's shares was suspended four months ago, amounting to $ 37 billion, on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange, which is the largest in the world, and it does not seem that the current decisions of the Chinese government are the last as the major companies will remain in the crosshairs of the authorities in all their future moves.

Giant fine against the Chinese company Alibaba

In a news announced on the "Wall Street Journal", it was reported that the China Antitrust Authority is considering imposing a historic fine on the e-commerce giant, whether in China or the world, called "Alibaba", after it launched the Chinese Market Supervision and Regulation Authority. An investigation against "Alibaba" into monopolistic practices. For its part, the company expressed its readiness to effectively cooperate with the authorities in October 2020.
The news also stated that the fine will exceed the $ 975 million fine paid by Qualcomm in 2015 due to unfair competition practices.
The "Alibaba" group is the largest e-commerce company in China and has been operating since 1999, and the group owns various e-commerce platforms such as:
  1. Alibaba Express.
  2. Tapao.
  3. Tmal.
باحث اقتصادي هدفي إنشاء موسوعة عن الدول العربية توضح جوانب القوة في كل دولة، واتمني أن يأتي اليوم الذي يتحد فيه العرب لتعم الفائدة علي كل الشعوب.


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