Tencent and Baidu fined by antitrust regulator
The Chinese State Administration for Market Regulation on Friday fined some of its largest tech giants, including Tencent Holdings Ltd (騰訊), Baidu Inc (百度), ByteDance Ltd (字節跳動) and Didi Chuxing (滴滴出行), for past acquisitions and investments as it stepped up its crackdown on the sector. Pony Ma’s (馬化騰) Tencent is being fined 500,000 yuan (US$77,000) for its 2018 investment in online education app Yuanfudao, the agency in a statement. Baidu was fined the same amount for its 2014 takeover of Ainemo Inc, a maker of consumer electronics including voice-controlled spe...
Source: taipeitimes.com