China's State Administration for Market Regulation imposed administrative punishments on the three Internet giants and disclosed to reporters its considerations in imposing the punishments.
Alibaba(阿里巴巴), one of the largest Internet companies in China, owns China's largest e-commerce platform Taobao and Tmall.
China Literature(阅文), whose main business is online books, is a subsidiary of Tencent (another Internet giant in China).
Hive Box(丰巢), whose business is to set up self-service package lockers in the community, is a subsidiary of China's largest express delivery company S.F. Express.
All three companies were punished, for not reporting the implementation of the concentration to the antitrust enforcement departments before the merger and acquisition of other companies.
In the past month, China has leveled up its antitrust enforcement efforts. On 19 Dec. 2020, the Central Committee of the Communist Party of China convened the Central Economic Working Conference, which specifically stressed the need to strengthen anti-monopoly. In the future, the antitrust enforcement by the Chinese government may continue to be strengthened.
The written decisions of administrative punishment for the above three companies are as follows:
Alibaba: http://www.samr.gov.cn/fldj/tzgg/xzcf/202012/t20201214_ 324334.html
China Literature: http://www.samr.gov.cn/fldj/tzgg/xzcf/202012/t20201214_ 324340.html
Hive Box: http://www.samr.gov.cn/fldj/tzgg/xzcf/202012/t20201214_ 324337.html
Contributors: Yanru Chen 陈彦茹
