China fines tech giants over anti-monopoly violations

A security guard passes by the Alibaba booth at a trade show in Beijing, China (Ng Han Guan/AP)

Chinese tech giants including Alibaba Group and Tencent Holdings have been fined for failing to report corporate acquisitions, adding to an anti-monopoly crackdown by the ruling Communist Party.

The companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration”, according to the State Administration for Market Regulation.