They had been doing banking business without being regulated as a bank, which gave them unfair advantage. The difference between Chinese market economy and other nominal 'capitalist' states is capital does not grow independent of or 'capture' the state, so they have a good chance of ensuring their billionaires will never make them an oligarchy no matter how rich they get. Which is good for the rest of the country, because once capital captures the polity, that's usually it for the "common good" or the little guy. In every country, it's the same story.
Topic: China fines Alibaba a record $2.8 billion for behaving like a monopoly (Read 2866 times)