China Fines Companies $3.7 Billion Last Year for Breaking Monopoly Rules

What’s new: China’s top market regulator last year slapped 23.6 billion yuan ($3.7 billion) in fines on companies that violated the country’s law against monopolies, a total that dwarves the previous year’s total by more than fiftyfold, an official announcement shows.

The State Administration for Market Regulation (SAMR) stepped up supervision over internet platforms, health care, public utilities and the construction material industry, according to the agency’s announcement on Sunday.