China Anti-Monopoly Law: Market Regulator Fines Alibaba, Tencent for Failing to Report Deals
2 years, 5 months ago

China Anti-Monopoly Law: Market Regulator Fines Alibaba, Tencent for Failing to Report Deals

News 18  

China’s market regulator announced on July 10 that it has fined technology behemoths Tencent and Alibaba as well as a number of other companies for breaking anti-monopoly regulations regarding the disclosure of transactions. China Anti-Monopoly Law This law has undergone revisions after being approved by China’s top legislative body in June and it will go into effect on August 1. At their peak, Alibaba and Tencent, both the companies had market capitalizations of over $800 billion each and it made them one of the top five companies in the world’s tech sector. Now, even though several reports claimed that China has signalled to ease the tech crackdown, it was revealed that the Chinese market regulator SAMR has fined firms like Alibaba, Tencent and SoftBank 500,000 yuan each for breaking the Anti-Monopoly Law.

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History of this topic

China launches investigation into US chipmaker Nvidia
Trending News
1 week, 6 days ago

China launches investigation into US chipmaker Nvidia

Al Jazeera  

Taipei, Taiwan – China has launched an antitrust investigation into chip giant Nvidia in what appears to be Beijing’s latest act of retaliation against Washington’s sanctions on Chinese tech companies. Chinese state media said on Monday that the California-based chipmaker was being investigated by the State Administration for Market Regulation for potentially violating China’s antimonopoly laws. Regulators will also review …

Alibaba has stopped monopolistic practices, regulator says
3 months, 3 weeks ago

Alibaba has stopped monopolistic practices, regulator says

China Daily  

A pedestrian walks past the headquarters of Alibaba in Beijing. KUANG DA/FOR CHINA DAILY China's top market regulator said on Friday that it has successfully guided tech giant Alibaba Group through a three-year antitrust compliance overhaul, ending the company's monopolistic practices and boosting fair competition in the country's online retailing sector. The move came as the State Administration for Market …

China's top court releases judicial explanation on anti-monopoly litigation
5 months, 4 weeks ago

China's top court releases judicial explanation on anti-monopoly litigation

China Daily  

BEIJING -- The Supreme People's Court on Monday issued an updated judicial explanation on anti-monopoly civil litigation to maintain fair competition and order in the market and uphold judicial justice and efficiency. The judicial interpretation consists of 51 articles, making provisions for matters such as anti-monopoly civil litigation procedures, monopoly agreements, abuse of market dominance and civil liabilities for monopolistic …

Anti-Monopoly Law better regulates firms, ensures fair play
2 years, 4 months ago

Anti-Monopoly Law better regulates firms, ensures fair play

China Daily  

Since the adoption of the first five-year plan and its pledge to establish the rule of law, China has introduced and amended many laws to promote the country's development and build a harmonious society. The amended Anti-Monopoly Law reflects such essential principles of rule of law as consideration of real national conditions, giving priority to people's interests, centralization and unification …

China’s Didi Global fined $1.7 billion for 'serious' personal information protection violations
2 years, 5 months ago

China’s Didi Global fined $1.7 billion for 'serious' personal information protection violations

ABC  

China's cybersecurity regulator has fined ride-share company Didi 8 billion yuan, ending a probe that forced it to delist from the New York Stock Exchange after a year in operation, sending foreign investors a warning about China's tech sector. Key points: Didi raised alarms going ahead with a US stock exchange listing, despite being urged to wait while a cybersecurity …

Major economic policies boost recovery in 2021
2 years, 11 months ago

Major economic policies boost recovery in 2021

China Daily  

Steps announced to curb monopolies A man takes a photo of China's national anti-monopoly bureau in Beijing on Nov 18, 2021. China's State Council issued antitrust guidelines on the country's platform economy, addressing economic and social activities facilitated by platforms, on Feb 7, signaling strengthened antitrust enforcement against monopolistic behaviors in the country's internet platform sector. China's national anti-monopoly bureau …

Antitrust actions have a long timeline
3 years, 2 months ago

Antitrust actions have a long timeline

China Daily  

A child takes part in an art exhibition using virtual reality devices at an art museum in Hangzhou, Zhejiang province, earlier this month. Big antitrust actions have come at key moments in history－mostly on the heels of big technological breakthroughs, which the innovators have used to grab a larger share of the market leading to big profit windfalls. China has …

Antitrust actions have a long timeline
3 years, 2 months ago

Antitrust actions have a long timeline

China Daily  

A child takes part in an art exhibition using virtual reality devices at an art museum in Hangzhou, Zhejiang province, earlier this month. Big antitrust actions have come at key moments in history－mostly on the heels of big technological breakthroughs, which the innovators have used to grab a larger share of the market leading to big profit windfalls. China has …

New China law tightens control over companies’ data on users
3 years, 4 months ago

New China law tightens control over companies’ data on users

India TV News  

China is tightening control over data gathered by companies about the public under a law approved Friday by its ceremonial legislature, expanding the ruling Communist Party’s crackdown on internet industries. The data protection law follows anti-monopoly and other enforcement actions against companies including e-commerce giant Alibaba and games and social media operator Tencent that caused their share prices to plunge. …

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'
3 years, 4 months ago

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'

ABC  

For many years, Jack Ma was the poster child for China's technological rise, until he gave a controversial speech which led to the Communist Party turning him into "public enemy number one". Key points: Alibaba founder Jack Ma is $32.5b poorer after criticising the government His speech is regarded as a "tipping point" for Beijing's wider tech crackdown US-China rivalry …

China issues draft rules banning unfair competition in the internet sector
3 years, 4 months ago

China issues draft rules banning unfair competition in the internet sector

The Hindu  

Chinese regulators on Tuesday issued a lengthy set of draft regulations for the internet sector, banning unfair competition and restricting the use of user data, the latest move in a crackdown on the country's powerful tech companies. According to a document published on China's State Administration for Market Regulation website, business operators should not use data, algorithms or other technical …

Tencent's $5.3 Billion Video Games Merger Blocked by Chinese Regulator
3 years, 5 months ago

Tencent's $5.3 Billion Video Games Merger Blocked by Chinese Regulator

News 18  

China’s market regulator on Saturday said it would block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds. Tencent first announced plans to merge Huya and DouYu last year in a tie-up designed to streamline its stakes in the firms, which were estimated by data firm MobTech to have an 80 …

China authorities name 105 apps for improper data practices
3 years, 7 months ago

China authorities name 105 apps for improper data practices

Associated Press  

HONG KONG — China’s internet watchdog said Friday it had found Bytedance’s Douyin, Microsoft Bing, LinkedIn and 102 other apps were engaged in improper collection and use of data and ordered them to fix the problem. The Cyberspace Administration of China said that the 105 apps violated laws by excessively collecting and illegally accessing users’ personal information, according to a …

Alibaba accepts record $2.8bn fine and thanks Chinese authorities for ‘guidance’
3 years, 8 months ago

Alibaba accepts record $2.8bn fine and thanks Chinese authorities for ‘guidance’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Alibaba group has accepted the …

Alibaba’s record fine is a ‘warning shot’ in China’s tech crackdown
3 years, 8 months ago

Alibaba’s record fine is a ‘warning shot’ in China’s tech crackdown

CNN  

Hong Kong CNN Business — Alibaba is trying to draw a line under accusations that it behaved like a monopoly after Chinese regulators hit the online shopping giant with a record fine over the weekend. Joe Tsai, Alibaba Group’s co-founder and executive vice chairman,told investors on Monday that the company will not appeal the 18.2 billion yuan penalty that China’s …

Alibaba fined $2.8 billion on competition charge in China
3 years, 8 months ago

Alibaba fined $2.8 billion on competition charge in China

Associated Press  

BEIJING — Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries. It promised to “operate in accordance with the law with utmost diligence.” The move is a new setback for Alibaba and its billionaire founder, Jack Ma, following …

China slaps $2.8 bn fine on Ma’s Alibaba
3 years, 8 months ago

China slaps $2.8 bn fine on Ma’s Alibaba

The Hindu  

Chinese regulators have imposed a record $2.78 billion fine on the Alibaba Group, capping a months-long probe into the homegrown e-commerce giant’s dealings and troubles with the government that had raised questions about the future of its billionaire founder Jack Ma. The State Administration for Market Regulation in December announced an antitrust probe weeks after a record $37 billion IPO …

China's market regulator to launch new rules on online deals
3 years, 9 months ago

China's market regulator to launch new rules on online deals

The Hindu  

China's market regulator will launch new rules this year to clarify the responsibilities of platform companies involved in online transactions, the state-owned Xinhua News Agency said. The regulator will also accelerate the construction of a system that will collect the online transaction information in real time allowing for better monitoring and coordination, Weiwas quoted as saying on Monday which is …

China regulator fines 12 firms over anti-monopoly law
3 years, 9 months ago

China regulator fines 12 firms over anti-monopoly law

The Hindu  

China’s market regulator said on Friday that it fined a dozen companies, including games company Tencent Holdings and Chinese search engine firm Baidu Inc., for not disclosing past deals as authorities step up anti-monopoly scrutiny in the internet sector. The companies, which included other firms such as ride-hailing company Didi Mobility and Softbank, were fined 5,00,000 yuan each for not …

China issues new anti-monopoly rules targeting its tech giants
3 years, 10 months ago

China issues new anti-monopoly rules targeting its tech giants

The Hindu  

China's market regulator released new anti-monopoly guidelines on Sunday that target internet platforms, tightening existing restrictions faced by the country's tech giants. The new rules formalise an earlier anti-monopoly draft law released in November and clarify a series of monopolistic practices that regulators plan to crack down on. The guidelines are expected to put new pressure on the country's leading …

Control over ‘troves of data’ behind Alibaba’s tussle with authorities
3 years, 11 months ago

Control over ‘troves of data’ behind Alibaba’s tussle with authorities

The Hindu  

At the heart of the on-going tussle between Jack Ma’s Alibaba Group and regulators in China is the control over “troves of consumer-credit data” that authorities believe have given the e-commerce giant an unfair advantage over its competitors, according to a report on Wednesday. China’s State media said last month Mr. Ma was “summoned” for talks ahead of the Ant …

China steps up pressure on Alibaba with anti-monopoly probe
3 years, 11 months ago

China steps up pressure on Alibaba with anti-monopoly probe

Associated Press  

BEIJING — Chinese regulators on Thursday announced an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up the ruling Communist Party’s efforts to control fast-growing tech industries. Since early November, regulators have tightened the reins by suspending the stock market debut of an online finance platform affiliated with Alibaba and summoned industry executives to warn them against trying to suppress …

China steps up Internet sector scrutiny, fines deals involving Alibaba, Tencent
4 years ago

China steps up Internet sector scrutiny, fines deals involving Alibaba, Tencent

The Hindu  

China warned its Internet giants on Monday that it would not tolerate monopolistic practices and to brace for increased scrutiny, as it slapped fines and announced probes into deals involving Alibaba Group and Tencent Holdings. The State Administration of Market Regulation said it would fine Alibaba, Tencent-backed China Literature and Shenzhen Hive Box 500,000 yuan each, the maximum under a …

Alibaba CEO says China's draft anti-monopoly rules ‘timely and necessary’
4 years, 1 month ago

Alibaba CEO says China's draft anti-monopoly rules ‘timely and necessary’

The Hindu  

China's move to draft rules aimed at preventing monopolistic behaviour by internet platforms is “timely and necessary”, Alibaba Group CEO Daniel Zhang said on Monday. The annual event from Nov. 23-24 organised by the Cyberspace Administration of China takes place as the country's internet giants including Alibaba, Tencent Holdings and Meituan face increasing government scrutiny. Earlier this month the planned …

Alibaba CEO says China’s draft anti-monopoly rules ‘timely and necessary’
4 years, 1 month ago

Alibaba CEO says China’s draft anti-monopoly rules ‘timely and necessary’

Hindustan Times  

China’s move to draft rules aimed at preventing monopolistic behaviour by internet platforms is “timely and necessary”, Alibaba Group CEO Daniel Zhang said on Monday. Alibaba Group CEO Daniel Zhang at the World Internet Conference in Wuzhen, Zhejiang province, China, November 23, 2020. The annual event from Nov. 23-24 organised by the Cyberspace Administration of China takes place as the …

Alibaba CEO strikes conciliatory tone on China’s plans for tougher tech regulation
4 years, 1 month ago

Alibaba CEO strikes conciliatory tone on China’s plans for tougher tech regulation

CNN  

Hong Kong CNN Business — Alibaba CEO Daniel Zhang has described plans by Chinese regulators to tighten restrictions on internet companies as “timely and necessary.” The remarks from Zhang come as Alibaba finds itself in the crosshairs of Chinese regulators. As China’s internet industry continues to develop, “many new problems and challenges will definitely arise,” Zhang added, and the government …

Draft rules aim to curb monopolistic behavior of internet platforms
4 years, 1 month ago

Draft rules aim to curb monopolistic behavior of internet platforms

China Daily  

China Daily China's draft rules aimed at preventing monopolistic behavior of internet platforms will help regulate online economic activities, stop anticompetitive practices, promote fair competition in the market and safeguard consumer interests, experts said. Dong Yizhi, a lawyer at Shanghai Joint Win Law Firm, said the draft rules reiterate that internet platform companies, including e-commerce marketplaces, must not abuse their …

Draft rules aim to curb monopolistic behavior of internet platforms
4 years, 1 month ago

Draft rules aim to curb monopolistic behavior of internet platforms

China Daily  

China Daily China's draft rules aimed at preventing monopolistic behavior of internet platforms will help regulate online economic activities, stop anticompetitive practices, promote fair competition in the market and safeguard consumer interests, experts said. Dong Yizhi, a lawyer at Shanghai Joint Win Law Firm, said the draft rules reiterate that internet platform companies, including e-commerce marketplaces, must not abuse their …

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