China’s State Administration for Market Regulation announced that they have fined 22 Internet companies for their roles in anti-monopoly cases, the Associated Press reported. Twenty-two companies including six owned the Alibaba Group, five by Tencent Holding Ltd. and two by retailer Suning.com, Ltd. were fined 500,000 yuan ($75,000) for acquiring stakes in other companies that could increase their market value.
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