The hatchet between the two Chinese e-commerce companies Alibaba and JD.com is buried for the time being. JD.com will receive one billion yuan (equivalent to 125 million euros) from Alibaba at the end of a year-long legal process, as the Reuters news agency reports. The two e-commerce companies had accused each other of monopoly practices since 2017.
According to the ruling, Tmall, Alibaba’s brand platform, abused its market dominance. Tmall required merchants to only work with one of the two marketplaces, causing “severe harm to JD.com.”
“This ruling is not only a fair decision for JD’s resistance to the monopoly, but also a milestone in upholding the fairness of the market and the competitive order through the rule of law,” said the statement from JD.com, which was provided to the news agency Reuters is available. “It will be an important moment in China’s legal process against monopolies.”
Alibaba told the news agency that it was aware of the ruling and “accepted the court’s decision.”
This translated article previously appeared on FashionUnited.nl