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China fines Alibaba, Baidu, JD, others for failing to report old deals


China’s market regulator said on Saturday it is fining businesses, Alibaba, BaiduAnd JD.comFor failing to report 43 transactions that go back to 2012 to the authorities.

The cases will result in enterprises being fined each 500,000 Yuan (or $78,000). This is the maximum amount under China’s Anti-Monopoly Law 2008.

Alibaba, Baidu and GeelyResponded not to immediate requests for comment.

China is tightening its control over internet platforms. This reverses a previously laissez-faire approach. They cite the danger of abusing market power in order to stifle competition and misuse consumers’ data.

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Baidu’s 2012 acquisition of a partner was the earliest. Zhejianggeely Holdings, a Chinese automaker, was most recently involved in a 2021 deal to form a new-energy vehicle business.

The State Administration of Market Supervision also cited Alibaba’s 2014 acquisition of Chinese navigation and mapping firm AutoNavi, and’s 2018 purchase of 44% of the company to make it the largest shareholder of the delivery service.

However, these deals did not result in the elimination or restriction of competition, according to the regulator.

It fined Tencent-backed China Literature, Alibaba and Shenzhen Hive Box each 500,000 Yuan for failing to report past transactions properly in antitrust reviews. This was the first time that it ever did so.