Alibaba-backed Nice Tuan Issued 1.5 Million Yuan Fine and Suspension after Failing to Correct “Improper Pricing Behavior”
Chinese regulators imposed the maximum penalty of 1.5 million yuan ($235,257) on Alibaba-backed community group-buying platform Nice Tuan and ordered it to suspend operations in Jiangsu province for three days after the company failed to rectify product dumping and pricing fraud.
The State Administration for Market Regulation (SAMR) s…
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