RIYADH: Alibaba Group Holdings, Tencent Holdings and Baidu were among the companies ordered by China"s competition watchdog to pay fines of 21.5m yuan ($3.4m) in the latest round of sanctions in the country"s ongoing crackdown on monopolies, Bloomberg reported. The companies must pay 500k yuan ($78k) for each of the 43 antitrust violations, the State Administration for Market Regulation said in a statement on Saturday. Alibaba levied $2.8 billion in taxes earlier this year for abusing its market dominance, while food delivery company Meituan was fined $533 million last month for violating antitrust regulations. Beijing has increased antitrust supervision of China"s sprawling private sector, particularly in the digital realm.
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