China has imposed fines on technology giants Alibaba and Tencent as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country’s market regulator said on Sunday, reports Reuters.
The State Admnistration for Market Regulation (SAMR) released a list of 28 deals that violated the rules. Five involved units of Alibaba, including a 2021 purchase of equity in its subsidiary, the Youku Tudou streaming platform.
Tencent was involved in 12 of the transactions on SAMR’s list.