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Tencent Spared Amid China Tech Monopoly Crackdowns
Commentary
The Chinese regime fined Alibaba $2.8 billion under its “anti-monopoly law,” highlighting the regime’s comprehensive review of mainland internet companies.
However, Tencent, another monopolistic internet company in mainland China, was only fined $311,610, mere pennies for a mega-corporation like Tencent.
The CCP’s biggest grievance with Alibaba is that it has grabbed a very big slice of the CCP’s precious banking and finance pie. In reality, Tencent’s monopolistic actions are no lesser than Alibaba’s.
China’s three main technology companies are Baidu, Alibaba, and Tencent (BAT). Among BAT, Tencent’s amazing expansion has created the most serious monopoly, which far surpasses the reach of Alibaba or Baidu.