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China fines Alibaba, Tencent and Baidu for more antitrust violations

November 23, 2021
Source: hwcol.com hwcol.com
News Snapshot:
Alibaba, Tencent, Baidu and other companies were all slapped with fines over the weekend for violating antitrust laws, the State Administration of Market Regulation (SAMR) said in a statement. SAMR listed 43 separate violations, with some offenses dating back as far as 2012. The penalty for each fine is 500,000 yuan ($78,000). «The cases announced this time are all transactions that should have been declared but not declared in the past,» SAMR said in its statement. The market regulator has spearheaded a yearlong campaign against Big Tech in China. The totals announced Saturday are small in comparison to some of...
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