Chinese internet companies fined for violating part of anti-monopoly law

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Chinese regulators for regulating monopolies has fined three leading internet companies for failing to declare past acquisitions under the country's recently drafted anti-monopoly laws.

The penalties came on the heels of increased scrutiny of China's largest technology companies and a broader wave of antitrust efforts while preventing the disorderly expansion of capital, experts said.

The State Administration for Market Regulation announced on Monday it has fined e-commerce giant Alibaba Investment, Tencent-backed e-book site China Literature and logistics player Shenzhen Hive Box Technology 500,000 yuan ($76,450) each for . . .

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