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China fines tech giants as anti-monopoly crackdown continues

China’s State Administration of Market Regulation imposed fines on several major Chinese tech firms on Friday for failing to disclose 43 deals in violation of anti-monopoly legislation. Some of the biggest names in China tech such as Alibaba, JD, Tencent, Baidu, ByteDance, and Meituan were fined RMB 500,000 ($78,000) for each violation. Tencent and Alibaba were the worse hit in this latest regulatory crackdown, with 13 and 12 deals included on the list respectively. [SAMR press release, in Chinese]

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