ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
China tech

China fines tech giants for failing to report over 40 old deals

Move comes as China tightens its grip on internet platforms

Companies including Alibaba, Baidu and JD.com were fined by China's market regulator for failing to declare deals that date as far back as 2012.

BEIJING (Reuters) -- China's market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation.

Enterprises involved in the cases would be fined 500,000 yuan ($78,000) each, it said, the maximum under China's 2008 Anti-Monopoly Law.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more