China fines tech giants over anti-monopoly violations – ABC News

The companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration,” according to the State Administration for Market Regulation.

Beijing has launched anti-monopoly, data security and other crackdowns on tech companies since late 2020.

Alibaba, the world’s biggest e-commerce company by sales volume, was fined $2.8 billion in April for practices that regulators said suppressed competition.

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