Chinese tech giants, including Alibaba, Tencent, and Baidu, were fined on Saturday for failing to report 43 previous acquisitions in the latest round of the anti-monopoly crackdown by the ruling Communist Party. The companies failed to report the deals, that date as far back as 2012, according to an announcement from the State Administration for…
China’s Meituan Anti-Monopoly Fine Less Than Feared, Shares Rebound
October 11, 2021
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Shares of China’s food delivery giant Meituan rebounded more than 8 percent on Oct. 11. The company’s financial penalty for violating the anti-monopoly regulations was lower than expected, and less severe than Alibaba’s earlier this year. Analysts predict that market uncertainty will persist and keep tech sector valuations depressed for several more months. With regulatory stings,…
Chinese Regime Forces Ride-Hailing Company To Suspend User Registrations After US IPO, Causing Stock to Fall
Just two days after the Chinese ride-hailing giant Didi Chuxing launched its U.S. initial public offering (IPO), the Chinese communist regime’s Cyberspace Administration started a security review on the company and suspended its registration of new users. The action caused Didi’s stock to fall on the New York Stock Exchange (NYSE). On July 2, the Cyberspace…
Ukraine to Return Ownership of Jet Engine Maker From Chinese Investors
March 19, 2021
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The Ukrainian government announced it will return ownership of an aircraft engine manufacturer from Chinese investors last week, ruling out the possibility of it falling into the power of the Chinese Communist Party (CCP). Motor Sich, one of the top jet engine makers worldwide, is a Ukrainian privately-owned company based in Zaporizhia, although being majority-owned…
China Market Regulator Fines 12 Firms for Violating Anti-Monopoly Law
BEIJING—China’s market regulator said on Friday it had fined 12 companies related to 10 deals that violated anti-monopoly rules. The companies included Baidu Inc., Tencent Holdings, Didi Chuxing, SoftBank, and a ByteDance-backed firm, the State Administration for Market Regulation (SAMR) said in a statement on Friday. The companies were fined 500,000 yuan ($77,000) each for…
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