Fake reports traded online

Shops on online shopping platforms Taobao and Pinduoduo were caught trading fake testing reports and certifications for various businesses, and were among 2,321 shops penalized by China's market regulator recently.

The shops forged certificates issued from testing agencies including the China Metrology Accreditation and were involved in fraudulent use of those organizations' names, the State Administration of Market Regulation said.

This came as the Chinese antitrust watchdog imposed fines on tech giants including Alibaba, Tencent (0700), JD.com (9618) and Baidu (9888) for failing to report 43 deals dating back as far as 2012 to the authorities, saying they violated anti-monopoly legislation. Enterprises involved in the cases would be fined 500,000 yuan (HK$610,526) each, the SAMR said on Saturday, the maximum under China's 2008 Anti-Monopoly Law.

The earliest deal listed was a 2012 acquisition involving Baidu and a partner, and the most recent was the 2021 agreement between Baidu and Chinese automaker Zhejiang Geely Holdings to create a new-energy vehicle company.

Other deals cited by the regulator included Alibaba's 2014 acquisition of Chinese digital mapping and navigation firm AutoNavi and its 2018 purchase of a 44 percent stake in Ele.me to become the food delivery service's largest shareholder.