BEIJING - China’s market regulator said on Friday it has fined 12 companies related to 10 deals that demonstrated illegal monopolistic behaviours.
The companies were fined 500,000 yuan each for behaviour that caused market concentration but did not exclude all competition from other companies, SAMR said. ByteDance said a joint venture between its affiliated firm and Shanghai Dongfang Newspaper Co Ltd, which were both fined, was never in operation and the JV was disbanded in January.China has stepped up scrutiny of its internet giants in recent months, citing concerns over monopolistic behaviour and potential infringement of consumer rights.
As if China isn't monopolistic with its debt trap policy & scams
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