Chinese regulators fine tech giants over anti-monopoly violations

Chinese tech giants Alibaba Group and Tencent Holdings were fined as they failed to report corporate acquisitions. The State Administration for Market Regulation said that the companies have failed to report 43 acquisitions, occurred around eight years ago under rules on "operating concentration”. They said that each violation carries a penalty of 500,000 yuan.

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Chinese regulators fine tech giants over anti-monopoly violations

Published On 22 Nov 2021 06:27 AM

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