Alibaba, Baidu, More Tech Giants Fined by China for Failing to Report 43 Old Deals

China's market regulator announced on Saturday that it was fining Alibaba, Baidu, and JD.com for failing to report 43 agreements to authorities dating back to 2012, alleging that they breached anti-monopoly laws.

The companies implicated in the instances will be penalized a maximum of CNY 500,000 apiece, according to the statement, which is the highest amount allowed under China's 2008 Anti-Monopoly Law. Requests for comment from Alibaba, Baidu, JD.com, and Geely were not immediately returned. China has tightened its hold on internet platforms, reversing a previously lax stance and citing the possibility of exploiting market dominance to restrict competition, abuse of customer data, and violations of consumer rights as reasons.