China Regulator Fines Alibaba and Tencent for Violating Disclosure Rules
China Regulator Fines Alibaba and Tencent for Violating Disclosure Rules

China Regulator Fines Alibaba and Tencent for Violating Disclosure Rules

10 july, 20221 minute to read
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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).

10 july, 2022
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