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  • btc = $69 783.00 -1 371.11 (-1.93 %)

  • eth = $3 683.76 -92.46 (-2.45 %)

  • ton = $6.23 -0.16 (-2.44 %)

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).