Mainland China’s State Administration of Market Supervision (SAMS) issued a news release stating that it made administrative penalty decisions under Articles 48 and 49 of the Anti-Monopoly Law and imposed fines of RMB 500,000 on Tencent Holdings Ltd. and other companies respectively.
The MAA said that it opened investigation into the following nine cases of illegal implementation of operator concentration in accordance with the provisions of the Anti-monopoly Law.
The acquisition of equity interest in Bitauto Holdings Limited by Tencent Holdings Limited.
The case of Tencent Holdings Limited’s acquisition of equity interest in Shanghai Rangtou Information Technology Co.
the case of the establishment of a joint venture between Linzhi Tencent Technology Limited and Dalian Wanda Commercial Management Group Co.
The case of acquisition of equity interest in Shanghai Link Health Information Technology Co. by Shanghai Hantao Information Consulting Co.
The case of establishment of a joint venture between Jiaxing Venture Global Co.
The case of the acquisition of equity interest in Winstime Auto Leasing Co. by Jiaxing Venture Global Co.
the case of the establishment of a joint venture between DDT Intelligent Transportation Technology Co. and Jinan Longchao Smart Investment Intelligent Technology Co.
The case of acquisition of equity interest in Shanghai Ego E-commerce Co. by Suning Rundong Equity Investment Management Co.
Ltd. and Shanghai Yunxin Venture Capital Co., Ltd. to establish a joint venture case
According to the Continental City Regulatory Bureau, after investigation, the above nine cases all violated Article 21 of the Anti-monopoly Law and constituted illegal implementation of operator concentration, which was assessed as not having the effect of excluding or restricting competition. Therefore, administrative penalty decisions were made in accordance with Articles 48 and 49 of the Anti-Monopoly Law, and Tencent Holdings Limited and other companies were fined RMB 500,000 respectively.
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