"Ali Baba" technology said it had accepted the huge fine imposed by the regulatory authority concerned with preventing monopoly in China.
The organizers imposed on the company a fine of $ 2.8 billion in the wake of an investigation that concluded that the company took advantage of its location in the market for years.
The fine is equivalent to about 4 percent of the local returns achieved by the company during 2019.
"We are happy to go beyond this issue, but the prevailing trend is that the organizers will be keen to monitor some aspects that may witness unfair competition," said Joseph Tsey, Executive Vice President of the "Ali Baba" group.
The company explained that it has no information on the conduct of the Chinese organizers more investigations, but it indicated that "Ali Baba" and its competitors will remain in the review in China against the backdrop of integration and acquisitions.
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The main issue for the organizers was that the "Ali Baba" group imposed restrictions on merchants related to displaying their products on competing platforms.
The company said that it will adopt certain procedures to overcome existing barriers and reduce the costs faced by merchants on e -commerce platforms.
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"Given the fine of the fine, we have received a good direction on certain issues that fall under the item of the prevention of monopoly," Tsai said.
This punishment is the latest procedure targeting the company, after the participant in its founding criticized Jack Ma organizers last year, indicating that they impose restrictions on innovation.
Chinese organizers have suspended the process of offering the shares of the "Ant" group, a sister company for "Ali Baba" and the largest electronic payment provider in China.
However, some commentators have noticed that the organizers were concerned with legitimate concern about the financial arm of the "Ant" group.
The expectations were that the group would be the largest company in the stock market on the Hong Kong Stock Exchange.
But "Ali Baba" is not the only Chinese company that has been scrutinized by the Chinese organizers.
The Chinese government department concerned with organizing the market said last month that it imposed fines on 12 companies against the backdrop of 10 commercial transactions that violated anti -monopoly bases.
These companies included Tennint, Paido and New Chocsing, a major Chinese company on technology.