Alibaba predicts no significant impact from $2.75bn antitrust fine

The fine - one of the largest of its kind ever - was levied in response to the firm's practices with merchants and alleged abuse of its market dominant position is.

Beijing wants Alibaba to stop requesting that merchants choose between doing business with it and rivals, a practice known as ‘merchant exclusivity’, which critics say helped it become China’s largest e-commerce operation.

Fines aside, the State Administration for Market Regulation (SAMR) ordered Alibaba to make “thorough rectifications” to strengthen internal compliance and protect consumer rights.

SAMR said it will not allow for Alibaba to carry out practices which are illegal under China’s antimonopoly law.

Alibaba said it accepted the penalty and “will ensure its compliance with determination”.

The company's shares shot 9% higher on Monday in Hong Kong Stock Exchange trading as investors welcomed the announcement and the end to the related uncertainty.