China’s State Administration for Market Regulation (SAMR) fined Alibaba $76,500 for increasing its stake in department store company Intime Retail Group to 73.79 percent in 2017 without seeking approval.
China’s market regulator also fined China Literature, an online publisher and e-book company spun off by Tencent, the world’s largest gaming company, for failing to seek approval before proceeding with its acquisition of New Classics Media.
Stock prices for Alibaba and Tencent both fell about 2.6 percent on Monday.
Alibaba acquired InTime Retail to combine e-commerce and offline retail, while China Literature hopes to expand its content offerings in acquiring New Classics Media.
SAMR is also reviewing the merger of major Chinese game streaming platforms, Huya Inc. and DouYu International Holdings.
Tencent, which owns stakes in both firms, is leading the deal and would control 67.5 percent of voting shares in the merged business.
Meanwhile, Shenzhen Hive Box, backed by Chinese courier firm SF Express, was censured for its acquisition of China Post Smart Logistics.
China has been stepping up scrutiny of monopolistic behavior by Internet companies and released draft regulations to clamp down on anti-competitive practices, such as using subsidies to squeeze out competitors and signing exclusive agreements with merchants.


Japan’s Yen Intervention and BOJ Rate Hike Bets Support Currency Recovery
Asian Stocks Slide as Iran Tensions Escalate Despite Strong Weekly Gains
Trump Signals Possible U.S.-Iran Peace Deal as Markets Rally on Hopes of War Ending
Iran-U.S. Peace Deal Near as Oil Prices Fall and Nuclear Disputes Persist
Oil Prices Rebound Slightly After Sharp Drop on Iran Deal Hopes
Gold Prices Hold Firm as Iran Tensions and Dollar Swings Drive Safe-Haven Demand
Russian LNG Shadow Fleet Expands Amid Arctic LNG 2 Sanctions
Wall Street Hits Record High as AI Chip Stocks and Strong U.S. Jobs Data Boost Markets
Asian Stocks Rally as Japan’s Nikkei Hits Record High on U.S.-Iran Peace Optimism
US-Iran Ceasefire Under Pressure as Fresh Strait of Hormuz Clashes Shake Oil Markets
S&P 500, Nasdaq Hit Record Highs as AI Stocks Rally and Strong Jobs Data Boost Confidence
China-Made Fireworks Power U.S. Independence Day Celebrations Amid Trade Truce
Dollar Slips as Strong U.S. Jobs Data Reduces Fed Rate Cut Expectations
Lula and Trump Talks Signal New Phase in Brazil-US Relations
China EV Truck Boom Accelerates as Iran War Drives Diesel Prices Higher
European Stocks Fall as US-Iran Conflict Rekindles Energy Supply Fears




