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Chinese market regulator fines 12 companies including Tencent for 'monopolistic' behaviour

The State Administration for Market Regulation said that the companies include Baidu Inc, Tencent Holdings, Didi Chuxing, and a ByteDance-backed firm

twitter-logoReuters | March 12, 2021 | Updated 10:55 IST
Chinese market regulator fines 12 companies including Tencent for 'monopolistic' behaviour

China's market regulator said on Friday it has fined 12 companies related to 10 deals that demonstrated illegal monopolistic behaviours.

The State Administration for Market Regulation said in a statement on Friday that the companies include Baidu Inc, Tencent Holdings, Didi Chuxing, and a ByteDance-backed firm.

Baidu, Tencent, ByteDance and Didi did not immediately respond to requests for comment.

Also read: Tencent focusses on core businesses as ByteDance makes sizeable inroads

Also read: Tencent sacks 100 employees, blacklists 37 firms over embezzelement, bribery incidents

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