BEIJING—Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan ($2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries.
Party leaders worry about the dominance of China’s biggest internet companies, which are expanding into finance, health services, and other sensitive areas. The party says anti-monopoly enforcement, especially in tech, is a priority this year.
