HONG KONG -- Shares in Alibaba Group Holding rose sharply on Monday following a record 18 billion yuan ($2.75 billion) antimonopoly fine against the e-commerce group, as its executives vowed to rectify its problems and step up efforts to retain the merchants it does business with.
China tech
Alibaba shares soar in wake of record antitrust fine
China e-commerce group will ease barriers for its merchants, says CEO Zhang
Chinese e-commerce giant Alibaba says it will make it easier for merchants to sell on its site after the government on April 10 imposed a record 18 billion yuan ($2.75 billion) fine on the company. © Reuters
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