China’s market regulator flexes muscles, signalling Wild West era of unchecked Big Tech growth is over

//China’s market regulator flexes muscles, signalling Wild West era of unchecked Big Tech growth is over

China’s market regulator flexes muscles, signalling Wild West era of unchecked Big Tech growth is over

China’s market regulator flexed its muscles this week, slapping fines of 500,000 yuan (US$76,300) each on Alibaba Group Holding, Tencent Holdings-backed China Literature and Shenzhen Hive Box for not properly reporting past acquisitions for clearance.“The internet industry is not outside of antitrust law,” SAMR said in a statement on Monday. “Although the fines are relatively small, the punishment signals to society that we are tightening up antitrust regulation in the internet space.”The…

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By | 2020-12-17T21:15:08+00:00 December 17th, 2020|Business|Comments Off on China’s market regulator flexes muscles, signalling Wild West era of unchecked Big Tech growth is over