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)