(Yicai Global) Jan. 5 -- China’s market watchdog has slapped financial penalties on Alibaba Group Holding, Tencent Holdings, Bilibili, and a number of other companies for failing to make anti-trust filings when buying stakes in firms or setting up joint ventures.

They will be fined CNY500,000 (USD78,600) for each case, according to the penalty decision on 13 cases released by the State Administration for Market Regulation today.

Tencent must pay CNY4.5 million (USD707,400) for involvement in nine cases. Tencent, which acquired shares in companies including Yong Hui Yun Chuang Management, IngageApp Global and Jiuxiaoer, did not declare the deals as required by law, according to the SAMR.

Alibaba was involved in two cases. Ali Venture Capital did not declare its acquisition of shares in Pan-Asia Communication Network Technology, while the set up of joint venture by Alibaba and Xingli Department Store Group was also not disclosed.

Bilibili was penalized for not declaring its investment in Versa, a startup that develops mobile video clipping and editing apps.

Since the end of 2020, the Chinese government has stated repeatedly that it will toughen anti-trust measures. The draft amendment of the Anti-Monopoly Law was issued on Oct. 23 last year and the State Anti-Monopoly Bureau was subsequently formed on Nov. 18, a milestone in China’s anti-monopoly efforts.

According to the current law, companies that fail to make anti-trust filings when acquiring equity can be fined up to CNY500,000. But the draft amendment states that the fine for such violations may be as high as CNY5 million.

Editor: Peter Thomas