Being watched: People walking past the Tencent headquarters in Shenzhen. The regulator has fined the company for unfair market practices. ― AFP
SHANGHAI: China’s market regulator said it would bar Tencent Holdings Ltd from exclusive music copyright agreements and fined the company for unfair market practices in the online music market after its acquisition of China Music Corp.
The Chinese government has been stepping up antitrust actions in recent months against the country’s large tech companies, including a record US$2.75bil (RM11.62bil) fine on e-commerce giant Alibaba for engaging in anti-competitive behaviour.
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