Reuters | |

China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years.

The fine, about 4% of Alibaba’s 2019 China revenues, comes amid a crackdown on technology conglomerates and indicates antitrust law enforcement on internet platforms has entered a new era in China after years of laissez-faire approach.

AP News | |

The battle against bigness is building. Whether it’s beer, banks or book publishing, lawmakers are targeting major industries they say have become so concentrated that they’re hurting competition, consumers and the economy.

The economic dislocation of the pandemic has laid bare the struggles of small businesses unable to compete with corporate giants that have been able to capitalize on the new order. Experts and lawmakers are throwing out stunning stats: