Chinese authorities fined Alibaba for monopoly in the amount of $ 2.78 billion

"China's General Administration for Market Control and Regulation issued an administrative penalty on April 10, deciding to impose a fine of 4% of the company's 2019 domestic sales ... for a total of 18.228 billion yuan," the statement said.

As noted, this decision was made "taking into account the nature, duration and scale of illegal activities of the Alibaba Group."