Beijing, December 25, 2025 — China’s market regulator has fined Zhejiang Province Talent Development Group and Zhejiang Public Information Industry Co. a total of CNY 1,700,000 (approximately $241,872) for implementing a joint venture without prior clearance, marking the fourth publicly disclosed case this year involving unlawful implementation of a transaction.
The State Administration for Market Regulation (SAMR) said the establishment of the joint venture by the two state-owned companies constituted a notifiable transaction that was completed without the required prior filing.
Unnotified Transaction
According to SAMR, the transaction met China’s notification thresholds and should have been submitted for review before completion. An assessment by the authority found that the deal did not have the effect of excluding or restricting market competition.
In determining penalties, SAMR took into account that both companies voluntarily reported the violation and took corrective steps after discovering the issue. Based on the Anti-Monopoly Law and the authority’s penalty guidelines for unlawful implementation of transactions, the regulator applied a reduced fine.
Zhejiang Talent Development Group was fined CNY 800,000 (approximately $113,822), while Zhejiang Public Information Industry was fined CNY 900,000 ($128,050).
Source: https://www.samr.gov.cn/xw/mtjj/art/2025/art_af578de0e7444087a5ed51d7f8b6286d.html
