April 10 (UPI) -- Chinese regulators have imposed a record $2.8 billion fine on Alibaba for violating anti-trust laws.
The fine stems from an anti-monopoly investigation of China's Alibaba Group Holding, known as the world's largest e-commerce company and owner of the South China Morning Post, opened in December. Regulators said in a statement at the time they were looking into practice of limiting Internet merchants to exclusively choose a single platform to sell their wares, South China Morning Post reported.