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Antitrust Clampdown in China

Tencent may be fined at least $1.5bn for not reporting details of investments and anti-competitive practices. China is preparing a substantial fine for Tencent Holdings as part of its sweeping antitrust clampdown on the country’s internet giants, but it is likely to be less than the record $2.75bn penalty imposed on Alibaba earlier this month, two people with direct knowledge of the matter said.Final confirmation of Tencent’s punishment will need a nod from China’s central leadership, why is the Chinese government imposing heavy fines on the technology giants ?

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