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Alibaba and two other firms fined for not reporting deals to Chinese regulators CNBC 14/12/2020 Arjun Kharpal Alibaba, Tencent-backed China Literature, and Shenzhen Hive Box Technology were each fined 500,000 yuan ($76,463) by the State Administration for Market Regulation (SAMR). While the fines are small, SAMR s move signals further intent from Chinese regulators to punish and regulate technology firms. Last month, the SAMR published draft rules looking to stop monopolistic practices by internet platforms. It is one of the most wide-sweeping proposals in China to regulate large tech firms. © Provided by CNBC Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015.

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