The Beijing Municipal Bureau of Market Supervision and Administration on Monday imposed the maximum possible penalty on online education platforms Zuoyebang and Yuanfudao for unfair competition and misleading consumers.
58.com CEO Yao Jinbo on April 10 posted in his WeChat Moments to call for a national antitrust fine of four billion yuan to be imposed on its own competitor Beike, China’s leading online real estate platform.
Chinese state media Xinhua News reported that Chinese E-commerce giant Alibaba received an ¥18.2 billion(US$2.8 billion) fine earlier on Saturday.
Ten companies have been fined for malpractice in past mergers and acquisitions deals, according to a statement from the State Administration for Market Regulation (SAMR) on Friday.
China’s market regulator has imposed fines totalling 6.5 million yuan ($1 million) on five community group-buying platforms affiliated with leading domestic internet companies, on allegations of price dumping and cheating.
The State Administration for Market Regulation announced on Tuesday morning that it has fined two Luckin entities and 43 third-party companies a combined 61 million yuan (around $9 million).