© Reuters. A man walks past the Alibaba booth during the first China International Supply Chain Expo (CISCE) in Beijing, China November 28, 2023. REUTERS/Florence Lo/File Photo
BEIJING (Reuters) – Chinese online retailer JD (NASDAQ:).com said on Friday that it won a lawsuit against rival Alibaba (NYSE:), which was slapped with a 1 billion yuan ($140.68 million) fine over monopolistic practices.
Zhejiang Tmall Network Co, Zhejiang Tmall Technology Co and Alibaba Group Holding Limited were found to have abused market dominance and adopted monopolistic practices known as “choosing one from two”, causing severe damages to JD.com, according to a JD.com statement, citing a ruling by a court in Beijing.
($1 = 7.1083 renminbi)
