China regulator fines Tencent, Alibaba for disclosure violations

China has imposed fines on technology giants Alibaba and Tencent, as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions. The State Administration for Market Regulation (SAMR) released a list of 28 deals that violated the rules. Five involved units of Alibaba, including a 2021 purchase of equity in its subsidiary, the Youku Tudou streaming platform. Tencent was involved in 12 of the transactions on SAMR's list. Under the anti-monopoly law, the maximum potential fine in each case stands at CNY500,000 (USD74,688).