Alibaba, Tencent, Others Fined for Disclosure Violations

(Source: Freepik)

China’s State Administration for Market Regulation (SAMR) published 28 administrative penalties on July 10 for failing to declare illegal concentration of business operators, involving Tencent, Alibaba, Didi, Bilibili, Weibo and other major internet firms, with a total fine of 17.2 million yuan ($2.56 million).

Of the 28 cases, four invo…