Chinese market regulators have fined Alibaba (BABA), Baidu (BIDU) and JD.com (JD) on November 20 for failing to declare 43 deals, according to CNBC. Shares of Alibaba, the Chinese company that operates online and mobile marketplaces for retail and wholesale trade, have lost 48% over the past year. (See Insiders’ Hot Stocks on TipRanks) The Deals Dating to 2012, the 43 deals have violated anti-monopoly legislation, and the companies involved will be fined 500,000 yuan ($78,000) each, as per China’s 2008 Anti-Monopoly Law. However, the regulator stated that these deals did not eliminate or restrict competition.
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