The Alibaba headquarters building in State Administration for Market Regulation of China slapped Alibaba with a hefty fine of nearly $ billion for "alternatively" monopolistic practices. Alibaba issued an open letter: punishment is a wake-up call and spur, will create a more open platform environment.

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Keywords: administration, alibaba, beijing, brand, business, economy, fine, headquaters, hefty, logo, market, monopolistic, monopoly, practices, regulation, sign, state