Source: South China Morning PostAlibaba Group Holding-backed community group buying platform Nice Tuan was fined 1.5 million yuan (US$235,000) by China’s market regulator for failing to take action over product dumping practices and pricing fraud.The State Administration for Market Regulation (SAMR) ordered the platform to suspend business operations in Jiangsu province for three days starting Friday for “failing to correct” monopolistic behaviour, although the company claimed it has taken steps to rectify such behaviour.“In…Read More