Internet companies fined in anti-monopoly cases

The State Administration for Market Regulation on Wednesday imposed a penalty of 500,000 yuan ($77,384.9) each on companies involved with cases violating the anti-monopoly law. The total fine for the 22 cases is 11 million yuan.

Companies involved with the 22 cases include tech giants Alibaba, Tencent and Suning.com. According to the Anti-Monopoly Law of China, the top regulator found these cases related to illegal concentration of business operators in the internet field after investigation. These cases do not have the effect of exclusion and restriction of competition, the regulator said.