SHANGHAI/BEIJING -- The $2.8 billion fine imposed on Alibaba for violating antitrust laws underscores Chinese President Xi Jinping's intention to tighten control of rapidly growing internet businesses and solidify his standing ahead of an important Communist Party congress next year.
China tech
Alibaba antitrust fine shows Beijing views tech giant as threat
Xi seeks to strengthen his grip ahead of 2022 Communist Party congress
Chinese authorities are clamping down on the Alibaba empire led by Jack Ma. © Reuters
Read Next
Latest on China tech
