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Exclusive: China’s antitrust regulator bulking up as crackdown on behemoths widens

Beijing’s plan to bulk up the State Administration for Market Regulation (SAMR) comes as China revamps its competition law with proposed amendments including a sharp increase in fines and expanded criteria for judging a company’s control of a market. The watchdog slapped a record $2.75 billion fine on Alibaba After an anti monopoly probe found the e-commerce giant had abused its dominant market position for several years. With growing scrutiny, executives of major internet firms are now required to make routine reports to the antitrust bureau for merger deals or of practices that could fall foul of anti monopoly rules, one of the sources said.

Source- Reuters

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