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Jack Ma to pay China Sh295 billion

Jack Ma is the founder of China-based e-commerce company Alibaba. [File, Standard]

Chinese regulators said on Saturday they have fined Alibaba Group Holding Ltd a domestic record $2.75 billion (Ksh295 billion) for antitrust violations, amid an unprecedented regulatory crackdown on Jack Ma’s company and other technology conglomerates.

LIU XU, RESEARCHER AT THE NATIONAL STRATEGY INSTITUTE, TSINGHUA UNIVERSITY

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