China Considering Million-Dollar Fine Against Jack Ma's Alibaba

Chinese authorities are purportedly preparing a fine that exceeds the $975 million Qualcomm paid in 2015.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Entrepreneur Staff
2 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Amid the Chinese government's conflicts with businessman Jack Ma, China's antitrust regulators are preparing a record fine against his e-commerce company, better known as Alibaba.

As reported by The Wall Street Journal, the authorities are considering imposing a fine on the Chinese firm that exceeds the $975 million that Qualcomm Inc. paid in 2015 for anti-competitive practices. To date, Qualcomm's fine has been the largest in China's corporate history.

Jack Ma, one of China's richest men, criticized his country's banking system during an event in Shanghai. Since then, the Chinese government has scrutinized his business more than ever.

Jack Ma, founder of Alibaba and Ant Group. Image:

For months, Alibaba has been in the sights of the Beijing government, along with its financial subsidiary Ant Group Co. The authorities strongly criticized Ant, which they consider a risk to the country's financial system and urged the fintech company to make changes in its operations.

According to the U.S. media, some officials familiar with the matter explained that regulators do not want to crush Alibaba, as long as it separates itself from "its striking and outspoken founder and aligns itself more closely" with the Chinese government.

More from Entrepreneur
Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Save on an annual Entrepreneur Insider membership through 5/8/21. For just $49/yr $39/yr, you’ll enjoy exclusive access to:
  • Premium articles, videos, and webinars
  • An ad-free experience
  • A weekly newsletter
  • Bonus: A FREE 1-year Entrepreneur magazine subscription delivered directly to you
Make sure you’re covered for physical injuries or property damage at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business

Latest on Entrepreneur