China fines companies like Alibaba, Baidu and Tencent for failing to declare 43 deals amid the Asian giant's antitrust fight

Published: 20 nov 2021 08:54 GMT The state market regulator fined each of the companies involved the equivalent of $ 78,000, the maximum under China's Antitrust Law. China's State Administration of Market Regulation on Saturday fined several relevant companies, including tech giants Alibaba, Baidu, Tencent and e-commerce platform JD.com and Suning, for violating national antitrust laws. The Chinese market regulator determined that the companies failed to declare 43 M&A agreements dating back to 2012. Also, the companies that committed the crime will be fined 500,000 yuan (about $ 78,000) each, the maximum under China's 2008 Antitrust Law, pick up Reuters….