Beijing continues to beat the tech giant Baidu, Tencent, Ali, etc. and fined

[NTD News November 22, 2021, Beijing time]The Sixth Plenary Session of the Central Committee of the Communist Party of China, which aims to pave the way for Xi Jinping to remain in power, has ended, but the Beijing authorities have not relaxed the supervision of Chinese Internet technology companies.A few days ago, includingAlibabaBaiduTencentA group of Internet companies included, because some transactions failed to declare in accordance with the regulations, they were separately approved by the State Administration of Market Supervision.fine500,000 yuan (the same below RMB).

On Saturday (November 20), the State Administration of Market Supervision of the Communist Party of China (hereinafter referred to as the State Administration of Market Supervision) issued an announcement, announcing that 43 companies involved in the “concentration of undertakings in violation of the law” will be dealt with separately.fine500,000 yuan.

According to an announcement by the Municipal Supervision Bureau, the companies that were punished this time were accused of violating Article 21 of the Anti-Monopoly Law promulgated by the Beijing authorities because some of the acquisition transactions failed to report in a timely manner in accordance with official regulations.

The outside world noticed,AlibabaTencentBaiduWell-known Internet companies in China, such as Suning.com, JD.com, Didi, and Meituan, once again appeared on the blacklist that was punished. In addition, the penalized cases also involved companies in other fields such as maps and medical technology assets.

Among them, the Tencent department and the Ali department involved the most cases, involving 13 and 12 cases respectively. This means that the fines handed over by the two companies this time exceeded 5 million yuan.

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Based on media reports in mainland China, the cases involved in Alibaba’s punishment include multiple equity acquisitions involving the company’s acquisition of AutoNavi Software (software), Meizu Technology, and Souche.

Tencent’s cases involved acquisitions of Beijing Tengkang Hui Medical Technology, China Medical Online, Tianjin Wu Ba Jinfu, Shenyang Meixing Technology and other equity acquisitions. Tencent and Ali jointly acquired equity in Yongyang Anfeng (Beijing) Technology. in.

The cases involved in Beijing Baidu include the acquisition of shares in Nanjing Xinfeng Network Technology by the company and Nanjing Netdian.

Since the end of 2020, the Beijing authorities have significantly increased the supervision of Chinese technology companies on the grounds of antitrust and data security.

In March of this year, in the name of “anti-monopoly”, the General Administration of Supervision of the People’s Republic of China has already dealt with 12 Chinese Internet technology companies including Alibaba, Tencent, Baidu, Meituan, Suning, JD.com, Bytedance, Didi, and their related parties. The company was fined 500,000 yuan.

In April, Alibaba was fined 18.2 billion yuan by regulators for banning merchants on its online shopping platform from opening stores on other competitive platforms (commonly known as “choice of two”).

In July, the Municipal Supervision Bureau once again fined Tencent, Alibaba and other companies 500,000 yuan in the name of “anti-monopoly.”

In October, Meituan, the leading food delivery company, was also fined for forcing businesses to “choose one of two” and other acts, and the fine was as high as 3.4 billion yuan.

Overseas media generally believe that the Beijing authorities’ sudden increase in supervision of these large companies is mainly because the authorities are worried that these large companies have too much control over related industries and their powerful influence will pose a threat to the current regime.

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(Reporter Liming Comprehensive Report/Responsible Editor: Lin Qing)

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