|
The
High People's Court of Beijing ruled that Alibaba Group Holding
Limited along with Zhejiang Tmall Network Co and Zhejiang Tmall
Technology Co had abused their market dominance and adopted
monopolistic practices known as "choosing one from two" causing
JD.com severe damage, JD.com said in a statement published on
its official WeChat account.
JD.com said it has nothing more to add beyond the statement.
"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," the statement said. "It will be a
significant moment in China's anti-monopoly legal process."
An Alibaba spokesperson told Reuters they were aware of the
ruling and "respect the court's decision".
Alibaba was fined a record $2.75 billion in an anti-trust probe
by Chinese regulators in 2021 which stated that it had abused
its market dominance.
The two e-commerce giants in China had criticised each other for
a practice called choosing one out of two, citing brands and
merchants who had reportedly been told that if they wanted to
operate on their platform, they have to do so exclusively.
($1 = 7.1083 Chinese yuan renminbi)
(Reporting by Sophie Yu, Li Qiaoyi, and Casey Hall; editing by
Jason Neely)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
