Fine on Alibaba serves to strengthen anti-monopoly awareness

Alibaba employees entering the company in Hangzhou, Zhejiang Province. - Xinhua

CHINESE authorities imposed an 18.23 billion yuan ($2.78 billion) fine on e-commerce mammoth, Alibaba, for its violation of the anti-monopoly law.

I've read the State Administration for Market Regulation (SAMR)'s administrative punishment written decision and SAMR's administrative guidelines. The documents include many details and have a strong legal reference. I believe this punishment is a milestone for the entire economic community to establish and strengthen anti-monopoly awareness for complying with relevant laws.

The legal concept in our society is still not strong enough in general. When a new economic sphere is opened up, there are often notions that the bold will succeed while the timid will starve, and that the laws do not punish numerous offenders. These concepts usually leads to rectification.

I sincerely hope that our economic order will become more stable, so that the massive economic activities of a certain period of time will not deviate from the basic framework of the law from the very beginning.

As a media professional, I also hope that Alibaba will withstand this setback and sincerely cooperate with government's supervision. I hope it will continue contributing to the development of the internet economy. Going through waves and tides, only those who can persevere will succeed.

The author is editor-in-chief of the Global Times.- [e-mail]