Alibaba says to lower entry barriers, business costs of merchants

SHANGHAI - Alibaba Group will introduce measures to lower entry barriers and business costs faced by merchants on e-commerce platforms, CEO Daniel Zhang said on Monday, after an antitrust probe found the firm had abused its dominant market position.

China, on Saturday, imposed a record 18 billion yuan ($2.75 billion) fine on Alibaba amid a crackdown on technology conglomerates.

($1 = 6.5522 Chinese yuan)

(Reporting by Yilei Sun and Josh Horwitz; Writing by Ryan Woo; Editing by Jacqueline Wong)

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