Chinese regulator fines Tencent, Alibaba, JD, and Bilibili for monopolistic practices · TechNode

Chinese regulator fines Tencent, Alibaba, JD, and Bilibili for monopolistic practices · TechNode

On Wednesday, the State Administration of Market Regulation announced 13 cases punishing monopolistic practices. The regulator fined Chinese tech majors Tencent, Alibaba, JD, and Bilibili for “failing to declare concentration of operators” in business deals with other companies. Tencent was the hardest hit, receiving fines of RMB 4.5 million ($706,584) for nine undeclared business deals. Alibaba was fined RMB 1 million for two deals, and JD and Bilibili were each penalized RMB 500,000 for one deal. Since 2021, China has accelerated its crackdown on monopolies in the tech sphere. Forthcoming amendments to the current Anti-Monopoly Law are expected to increase fines up to 10 times. [STCN, in Chinese]



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