China’s market regulator said it was fining companies including Alibaba, Baidu, and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation.
China’s market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation. Enterprises involved in the cases would be fined CNY 500,000 (roughly Rs.58.15 lakhs) each, it said, the maximum under China’s 2008 Anti-Monopoly Law.
