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China imposes more fines on tech companies 2 minutes read Shanghai, China, Jul 8 (EFE).- China announced a series of new fines on big tech companies, including Alibaba, Didi Chuxing and Tencent, for irregularities related to merger or acquisition agreements over the past decade. In a series of statements issued on Wednesday night, the State Administration for Market Regulation (SAMR) revealed up to 22 fines of 500,000 yuan ($77,240) each, a very small amount compared to the multibillion-dollar revenues of the affected companies but the maximum allowed by China’s anti-monopoly law for such irregularities. Out of the 22 fines, eight have been imposed on subsidiaries of Didi, referred to as the “Uber of China”, six on e-commerce giant Alibaba, and five on multinational technology conglomerate Tencent, developer of the popular social media platform, WeChat.

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