SHANGHAI (CHINA) – China’s market regulator said on Monday it will fine Alibaba Group, Tencent Holdings-backed China Literature and Shenzhen Hive Box 500,000 yuan ($76,464.29) each as they fail to report deals properly for anti-trust reviews.
The State Administration of Market Regulation said in a statement that it had come to a decision after reviewing deals the firms were involved in, including Alibaba’s past deal with Intime Retail (Group) Co Ltd and China Literature’s acquisition of New Classics Media.
