Ali Baba and Tencent fined by China after failure to report past deals

The market regulator in China, Reuters have mentioned that they will fine Alibaba and Tencent Holdings for failure in reporting dealings for anti- trust regulation. The State has said that this decision has been taken after studying the involvement of the companies in deals such as Alibaba with Intime Retail Group Co Ltd. Both the companies have been fined 500,000 yuan which is $76,464.29.