According to an official document released on October 27 by China's State Administration for Market Regulation (SAMR), internet giant Tencent and state-owned telecommunications operator China Unicom have gained unconditional approval to establish a joint venture following the completion of a review on October 18.
Most of them were internet enterprises, including Baidu, Alibaba, Tencent, Meituan, ByteDance, JD.com, Suning.com, Sina, 58 Group and more.
The State Administration for Market Regulation said in a statement on Friday that Porsche (China) Motors Ltd. has recalled 94 2018-2021 imported Cayenne cars, made from December 5, 2017 to February 10, 2021, as is required by relevant regulations regarding the management of defective cars.
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.
On Dec. 14, Alibaba Investment, China Literature, and Hive Box were fined an overall 1.5 million yuan for violating the anti-monopoly law, according to a notice from the State Administration for Market Regulation.
China’s market regulator disclosed yesterday the penalty of fines of 2 million yuan ($300,000) each for Luckin Coffee and four other associated companies for their 123 million fake orders fabricated through fake transactions, fake bank statements and other illegal measures.