Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc., are among companies ordered by China’s competition watchdog to pay a total of 21.5 million yuan ($3.4 million) in fines, part of the country’s ongoing crackdown. in the latest round of penalties. on monopoly.
The State Administration for Market Regulation said in a statement on Saturday that the companies would have to pay 500,000 yuan ($78,000) for each of the 43 antitrust violations.
President Xi Jinping announced in March his intention to go after “platform” companies that collect data to create monopolies and Beijing is increasing antitrust surveillance in China’s vast private sector, particularly the digital sector.
Alibaba was slapped with a $2.8 billion levy for abusing its market dominance earlier this year, while food-delivery leader Meituan was fined $533 million last month for violating anti-monopoly rules Was.
This story has been published without modification in text from a wire agency feed.
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