Friday, 24 March, 2023

China fines Alibaba, Tencent for disclosure violations

<p>Alibaba, Tencent, and a number of other businesses have been fined by China for breaking anti-monopoly laws requiring the disclosure of transactions, the nation&#39;s market regulator announced on Sunday. A list of 28 transactions that broke the rules was published by the State Administration for Market Regulation (SAMR). Five Alibaba subsidiaries were participating, including a 2021 equity purchase in its subsidiary, the Youku Tudou streaming platform.</p>