The Business Times
business-time-50

China fines Alibaba, Tencent for failing to report past deals to anti-trust regulators

google-preferred-sourceAdd BT as a preferred source
Published Mon, Dec 14, 2020 · 05:06 AM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    [SHANGHAI] China's market regulator said on Monday it will fine Alibaba Group, Tencent Holdings-backed China Literature and Shenzhen Hive Box 500,000 yuan (S$102,000) each for not reporting deals properly for anti-trust reviews.

    The State Administration of Market Regulation said in a statement that it had taken the decision after reviewing deals the firms were involved in, including Alibaba's past deal with Intime Retail (Group) and China Literature's acquisition of New Classics Media.

    REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    AlibabaTencent

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    While residential property has delivered solid gains, observers say other assets such as equities often outpace it over the longer term.

    Higher costs, lower returns: Why are Singaporeans still betting on real estate?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Eu Yan Sang group chairman Richard Eu has been with the company since 1989 and has seen plenty of change over the years, such as how employees view their jobs.

    Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More