Platform co-founded by Jack Ma, who has criticised Chinese authorities, misused its dominance, say state regulators

Chinese regulators have hit e-commerce company Alibaba with a fine of 18.2bn yuan (US$2.78bn) over practices deemed to be an abuse of its dominant market position, according to state-run media.

The Xinhua news agency said the state administration for market regulation had assessed the fine after concluding an investigation into Alibaba that began in December.

Alibaba co-founder, not seen since Beijing began crackdown on his firms, says he has been ‘studying and thinking’

The Chinese billionaire Jack Ma has made his first public appearance since Beijing began a crackdown on his business empire.

Ma, a celebrity businessman and one of the richest people in China, had not spoken publicly since regulators blocked the flotation of Ant Group, the financial payment company he controls. His absence had fuelled speculation that he may have fled China.

Alibaba co-founder has fallen out of favour with Beijing, but observers cautious about drawing conclusions

Speculation is mounting over the whereabouts of the Chinese billionaire Jack Ma, who has not been seen or heard in public for more than two months.

Ma, the co-founder and former chairman of the technology firm Alibaba, has fallen out of favour with China’s leadership. In late October, he stood alongside senior officials and delivered a blunt speech criticising national regulators, reportedly infuriating China’s president, Xi Jinping.