The mainland strikes another blow against internet antitrust. The State Administration of Market Supervision (SAMS) of the mainland made an administrative penalty decision under Articles 48 and 49 of the Anti-Monopoly Law of the People’s Republic of China, and fined Tencent Holdings and Drip Intelligent Transportation Technology with RMB 500,000 (approximately NT $2.19 million) respectively.
According to the news on the website of the mainland State Administration of Market Supervision, the mainland State Administration of Market Supervision imposed fines on Tencent Holdings Limited for its acquisition of equity interests in Bitauto Holdings Limited, Tencent Holdings Limited for its acquisition of equity interests in Shanghai Rangtou Information Technology Co. Ltd. and Toyota Motor Corporation to set up a joint venture, the case of Drip Intelligent Transportation Technology Co., Ltd. and Jinan Longchao Smart Investment Intelligent Technology Co. The illegal implementation of the operator concentration cases opened for investigation.
After investigation, the above nine cases all violated Article 21 of the Anti-monopoly Law of the People’s Republic of China and constituted illegal implementation of concentration of operators, which was assessed not to have the effect of excluding or restricting competition.
The State Administration of Market Supervision of the mainland recently held a meeting with the Central Internet Information Office and the General Administration of Taxation, requiring the mainland Internet platforms to conduct a comprehensive self-examination and self-inspection within one month, and to thoroughly rectify each item.
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