HONG KONG (AP) — China’s market regulator has fined 12 companies, including Tencent Holdings and Baidu Inc., for not disclosing past deals as authorities step up anti-monopoly scrutiny in the internet sector. China’s State Administration for Market Regulation said Friday that it fined the companies, which included other firms such as ride-hailing company Didi Mobility and Softbank, 500,000 yuan ($77,000) each for not disclosing previous investments, acquisitions or joint ventures. China in February released anti-monopoly guidelines aimed at clamping down on anti-competitive practices in the industry, such as signing exclusive agreements with merchants and the use of subsidies to squeeze out competitors.
