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China’s competition authority fines tech companies

The Chinese Competition Authority (SAMR) has fined twelve companies for illegal monopoly behavior. Those punished included global technology groups such as Baidu, Tencent Holdings, Didi Chuxing, Softbank and a company supported by Tiktok owner Bytedance, the regulator said. Each company would have to pay 500,000 yuan (around 64,500 euros).

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