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JD.com Emerges Victorious in Antimonopoly Lawsuit Against Alibaba
In a significant legal victory, Chinese online retailer JD.com has won an antimonopoly lawsuit against its rival Alibaba.
The High People's Court of Beijing ruled that Alibaba, along with its subsidiaries Zhejiang Tmall Network Co and Zhejiang Tmall Technology Co, had engaged in monopolistic practices known as "choosing one from two." As a result, Alibaba has been fined a staggering 1 billion yuan (USD$140.68 million) for its actions.
The court's decision comes as a blow to Alibaba, which has faced scrutiny over its market dominance in recent years.
The ruling in favor of JD.com highlights the court's commitment to upholding market fairness and competition through the rule of law.
JD.com, in a statement published on its official WeChat account, expressed its satisfaction with the court's decision. The company stated, "This ruling is not only a fair decision for JD's resistance against the 'choose one out of two' monopoly, but a landmark moment in upholding market fairness and competition order through the rule of law." JD.com sees this ruling as a significant milestone in China's ongoing efforts to combat monopolistic practices.
Alibaba, on the other hand, acknowledged the court's decision and stated that it respects the ruling. The company has been embroiled in several legal battles and regulatory challenges in recent years, as authorities in China have intensified their scrutiny of tech giants and their market practices.
The dispute between JD.com and Alibaba revolves around the practice of "choosing one out of two." Both e-commerce giants have been accused of pressuring brands and merchants to operate exclusively on their platforms. This practice has raised concerns about fair competition and market access for smaller players in the industry.
JD.com has emerged victorious in an antimonopoly lawsuit against Alibaba, resulting in a 1 billion yuan fine for the latter.
The High People's Court of Beijing ruled that Alibaba and its subsidiaries engaged in monopolistic practices.
JD.com sees the ruling as a significant moment in upholding market fairness and competition through the rule of law.
Source: REUTERS