China has denied plans to fine Alibaba nearly $ 1 billion for violating monopoly rules.

Earlier, the Wall Street Journal, citing sources, reported that officials are considering imposing a huge fine that could exceed $ 975 million.

However, a spokesman for the State Administration for Market Regulation of China told AFP denied the reports.

Alibaba, China's largest online shopping platform, has come under the spotlight in recent months over concerns about its impact on the day-to-day finances of ordinary Chinese.

A month later, officials launched an investigation into Alibaba's business practices, which were deemed anti-competitive, and Ma disappeared publicly until mid-January.

The company has been criticized in the past for barring its sellers from listing on competing e-commerce platforms.

Once completed, the action against Alibaba must be approved by China's top leadership.