China fines Alibaba and Tencent for failing to report deals

China’s top market regulator has fined units of Alibaba Group Holding Ltd, Tencent Holdings Ltd, and Bilibili Inc.

The trio were fined for failing to properly report about a dozen deals.

The regulator, China’s State Administration for Market Regulation (SAMR) slapped 500,000 yuan ($78,692) on the companies per deal.

SAMR has been targeting unreported deals involving tech giants.

Last November it listed 43 investments that companies failed to report and levied a 500,000 yuan fine for each one.

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