BEIJING (Reuters) – China’s market regulator said on Wednesday it has fined JD.Com Inc, Alibaba’s Tmall and Vipshop 500,000 yuan ($76,656.55) each for irregular pricing.
The State Administration of Market Regulation said in a social media post that it had taken the decision after it received consumer complaints over the companies’ pricing strategies around Nov. 11 shoping events.
Alibaba and JD.Com did not immediately respond to requests for comment, while Vipshop could not be immediately reached for comment.
($1 = 6.5226 Chinese yuan renminbi)
(Reporting by Yilei Sun, Sophie Yu and Tony Munroe, editing by Louise Heavens)
