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https://www.usnews.com/news/world/articles/2021-11-20/china-... Chinese tech giants including Alibaba Group and Tencent Holdings were fined Saturday for failing to report corporate acquisitionsThe companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration,” according to the State Administration for Market Regulation. Each violation carried a penalty of 500,000 yuan ($80,000), it said.The ruling party worries the companies have too much control over their industries and has warned them not to use their dominance to gouge consumers or block entry to new competitors.Alibaba, the world's biggest e-commerce company by sales volume, was fined $2.8 billion in April for practices that regulators said suppressed competition. Meituan, a food delivery platform, was fined $534 million on Oct. 8.
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