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China regulator fines firms over internet-related monopoly
08 Jul 2021, 03:18 GMT+10
Beijing [China], July 7 (ANI): China s State Administration for Market Regulation (SMAR) has handed fines to the country s internet giants, including Tencent, Alibaba and Didi Chuxing, after probing 22 cases of illegal operations in the internet sector.
The market regulator on Wednesday said that all the cases are violations of the country s anti-monopoly law, and the companies involved have been fined about USD 77,206 for each case, Global Times reported.
The probes of the 22 cases, which involved fields such as new retail, e-commerce, logistics, fintech, ride-hailing and charging piles in the new-energy vehicle industry, started in March and April this year.