Online retailer JD.com (9618.HK) in China said on Friday that it had won a legal battle against rival Alibaba (9988.HK), which had been fined $140.68 million or 1 billion yuan for engaging in monopolistic behavior.
Alibaba Group Holding Limited, Zhejiang Tmall Network Co, and Zhejiang Tmall Technology Co were found to have abused their market dominance and adopted monopolistic practices known as “choosing one from two” by the High People’s Court of Beijing, causing severe damage to JD.com, according to a statement released on the company’s official WeChat account.
JD.com stated that other from this assertion, it had nothing else to say.
“This verdict is not only an impartial choice for JD’s struggle against the ‘pick one out of two’ Monopolies, but an important turning point in defending equitable markets and competing order with the rule of law,” stated a statement. “It will be a significant moment in China’s anti-monopoly legal process.”
