By Jiahui HuangChinese e-commerce giant JD.com said it won a lawsuit against rival Alibaba Group Holding, which was fined 1 billion yuan ($140.7 million) over monopolistic practices. Zhejiang Tmall Network, Zhejiang Tmall Technology and Alibaba Group were found to have abused market dominance and engaged in monopolistic practices, causing severe damages to JD.com, it said in a statement Friday, citing a Beijing court ruling. The case was filed to the Beijing High People's Court in 2017. The State Administration for Market Regulation launched an investigation into Alibaba's monopolistic practices in December 2020. Write to Jiahui Huang at jiahui.huang@wsj.com(END) Dow Jones Newswires12-29-23 0548ET

Source: Wall Street Journal December 29, 2023 10:59 UTC