• btc = $117 337.00 - 203.35 (-0.17 %)

  • eth = $2 941.17 -14.98 (-0.51 %)

  • ton = $2.99 0.04 (1.24 %)

  • btc = $117 337.00 - 203.35 (-0.17 %)

  • eth = $2 941.17 -14.98 (-0.51 %)

  • ton = $2.99 0.04 (1.24 %)

10 Jul, 2022
1 min time to read

China has imposed fines on technology companies Alibaba and Tencent, as well as a number of other companies, for failing to comply with antitrust rules on transaction disclosure.

The State Administration for Market Regulation (SAMR) has published a list of 28 deals that violated the rules. Five of these involved Alibaba units, including the 2021 purchase of a stake in its subsidiary, streaming platform Youku Tudou. Tencent was involved in 12 deals from the SAMR list.

China's technology sector has become a major target of anti-monopoly practices since the end of 2020. According to antitrust laws, the maximum potential fine in each case is 500,000 yuan ($74,688).