Ant Group’s Alipay was slapped with a fine of 3.01 billion yuan ($416 million) while Tencent Holdings Ltd’s Tenpay was fined 2.99 billion yuan, the central bank said.
Separately, Ant Group has been fined 7.12 billion yuan for violating laws concerning consumer protection and corporate governance.
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Ant Group’s Alipay was slapped with a fine of 3.01 billion yuan ($416 million) while Tencent Holdings Ltd’s Tenpay was fined 2.99 billion yuan, the central bank said.
Separately, Ant Group has been fined 7.12 billion yuan for violating laws concerning consumer protection and corporate governance.
Discover the stories of your interest
Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here!