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Tencent Music regulatory crackdown milder than feared

Well, we say ‘milder’: China’s biggest music streaming company isn’t completely out of the woods in the Chinese government’s regulatory crackdown on various technology firms.

After the latest announcement of fines for companies including TME’s parent company Tencent, Alibaba and Didi, Billboard noted that the government is not (“for now”) making any noises about forcing TME to sell any of its three music streaming services: QQ Music, KuGou or Kuwo.

Instead, Reuters suggested that China’s antitrust regulator will fine the company 500k yuan (around $77.2k) over reporting failures in its acquisitions of the latter two services, and that it will order the company to “give up exclusive rights to music labels which it has used to compete with smaller rivals”.