China has imposed fines on tech giants Alibaba and Tencent as well as several other companies for violating China's anti-monopoly rules, particularly on the disclosure of transactions, the country's market regulator said on Sunday.

The State Administration for Market Regulation (SAMR) released a list of 28 deals that violated the rules. The cases disclosed this time are all transactions that should have been reported in the past but were undeclared.

Among them, Tencent Holdings has the most cases. Tencent was in 12 of the deals on SAMR's list. Five involved units of Alibaba, including its acquisition of Youku Tudou streaming platform and Best Inc, a logistics services provider in China.

Liu Zhiqin, senior research fellow at Chongyang Institute for Financial Studies of Renmin University of China, explained the larger the scale and market share, the higher the risk of missteps in its management. But Liu also noted that the unfair competition behaviors of these companies cause social unrest, affect the market stability and damage consumer interests, making them the focus of supervision.

According to the statement, the fine in most cases stands at 500,000 yuan ($74,680.36). This is one of the latest moves of China's crackdown on monopolistic practices of the tech sector since late 2020.

For the development of the companies in the anti-monopolistic environment, Liu said companies should not be suppressed by anti-monopoly, nor should their enthusiasm for innovation. He also encouraged to increase the transparency of business operations and enhance social supervision, so as to ensure that companies can continue to prosper and maintain the momentum of innovation. 

And most importantly, the companies should ensure there are enough professional talents to protect innovation, and the protection of innovation is to prevent the innovation from slipping into the monopoly, Liu stressed.

Tencent and Alibaba did not immediately reply to CGTN's request for a comment.