On Wednesday, China’s top market regulator announced that it had fined units of Alibaba Group Holding Ltd, Tencent Holdings Ltd, and Bilibili Inc for failing to properly report a dozen transactions.
According to public filings, China’s State Administration for Market Regulation (SAMR) fined the companies $78,692 per transaction, the maximum allowed under China’s 2008 anti-monopoly law.
Requests for comment from Alibaba, Bilibili, and Tencent were not immediately returned.
The penalties come amid China’s ongoing regulatory crackdown on a variety of industries, with the tech sector being a primary target.
