The State Administration of Foreign Exchange (SAFE) Shenzhen branch fined Tenpay, Tencent's online payment platform, 2.78 million yuan ($436,000) for misconduct, including conducting foreign exchange business beyond the scope of its registration, according to a statement posted late Friday on the regulator's website.
The FX regulator also gave the company a number of warnings, ordered it to rectify the violations and confiscate illegal gains, the statement said.
China launched a widespread clampdown on its technology sector this year, with the competition regulator in particular dishing out fines and warnings and conducting investigations into the biggest names in the "platform economy".