China market regulator fines 12 companies for illegal monopolistic behaviours

The State Administration for Market Regulation said in a statement on Friday that the companies include Baidu Inc, Tencent Holdings, Didi Chuxing, and ByteDance-backed firm

Reuters

12 March, 2021, 10:55 am

Last modified: 12 March, 2021, 10:55 am

A logo of Baidu is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, 23 November, 2020/ Reuters

China's market regulator said on Friday it has fined 12 companies related to 10 deals that demonstrated illegal monopolistic behaviours.

The State Administration for Market Regulation said in a statement on Friday that the companies include Baidu Inc, Tencent Holdings, Didi Chuxing, and ByteDance-backed firm.

Baidu, Tencent, ByteDance and Didi did not immediately respond to requests for comment.

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