Tag archives: -lrb-

The State Administration for Market Regulation imposed fines on 28 companies for not declaring the concentration of business operators as per the Anti-monopoly Law, according to the regulator on Sunday. The market body said the companies did not declare the concentration of business operators, a practice through which one company obtains control over another which may lead to monopoly, but all these cases were "past transactions". Tencent Holdings Ltd was fined a total of 6 million yuan ($896,245) over 12 acquisitions on companies, including retailing firm Okaybuy (China) Holding Inc and DeepBlue Alpha Inc. Alibaba"s subsidiaries were fined 2.5 million

Debt-laden China Evergrande Group said on Tuesday that a winding-up petition will not affect the group"s restructuring schedule, while experts said the petition does not necessarily mean bankruptcy for the property developer. China Evergrande said in a filing to the Hong Kong bourse on Tuesday morning that a winding-up petition from Top Shine Global Ltd of Intershore Consult (Samoa) Ltd was filed, and a hearing for the lawsuit is scheduled to be held on Aug 31. The petition was made for China Evergrande's failure to fulfill a financial obligation of HK$862.5 million ($110 million), and it was filed in the

Small and micro-sized enterprises in the services sector and individual businesses that rent properties from China"s State-owned enterprises will be exempted from rent for three months across the country in 2022, said the country's top State-asset regulator. As small and medium-sized enterprises play a key role in supporting the market, promoting employment and maintaining economic stability, the government and SOEs will offer supportive measures such as preferential electricity price for businesses in the areas of catering, retail, tourism, civil aviation, road, water and railway transportation, in order to minimize the impact caused by the COVID-19 pandemic, according to a circular