Haiyaa, the Chinese government is very fierce.
China’s major market regulators have fined Alibaba Group Holdings Ltd, Tencet Holdings Ltd and Bilibili Inc for their failure to report more than a dozen deals they have ever made.
According to public filings, China's National Administration for Market Regulation (SAMR) has imposed a penalty of 500,000 Yuan or US $ 78,692 on companies for each offer under China's 2008 anti-monopoly law.
The fines were imposed during ongoing regulatory crackdowns on various industries in China with the technology sector being the main target and SAMR in particular targeting technology companies that do not report their offerings.
As of November, a total of 43 companies were identified for failing to report their bids and were fined 500.00 Yuan.
