https://arab.news/bwspk
RIYADH: Alibaba Group Holdings, Tencent Holdings and Baidu were among the companies ordered by China's competition watchdog to pay fines of 21.5m yuan ($3.4m) in the latest round of sanctions in the country's ongoing crackdown on monopolies, Bloomberg reported.
The companies must pay 500k yuan ($78k) for each of the 43 antitrust violations, the State Administration for Market Regulation said in a statement on Saturday.
Alibaba levied $2.8 billion in taxes earlier this year for abusing its market dominance, while food delivery company Meituan was fined $533 million last month for violating antitrust regulations.
Beijing has increased antitrust supervision of China's sprawling private sector, particularly in the digital realm.