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China denies mulling record Alibaba fine but hits Tencent, Baidu and 10 others in antitrust crackdown


China denies mulling record Alibaba fine but hits Tencent, Baidu and 10 others in antitrust crackdown
MarketWatch
3/12/2021
© Andrew Harrer/Bloomberg News
China’s market regulator has imposed fines on some of the country’s biggest tech companies relating to 10 deals that violated anti-monopoly laws, it said on Friday.
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Separately the watchdog is reportedly weighing a record fine of more than $975 million on Alibaba, according to the Wall Street Journal, as China’s antitrust crackdown continues. The reports have been denied by Beijing.
The State Administration of Market Supervision (SAMR) said it had issued 500,000 yuan ($77,000) fines to twelve companies, including WeChat owner Tencent search engine Baidu ride-hailing giant Didi Chuxing and Japan’s SoftBank ....

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