Shenzhen video firm faces hefty copyright penalties

The market supervision authority in Shenzhen held a closed-door hearing on Tuesday to consider fining a local technology company 260 million yuan ($41.7 million) for an alleged copyright violation.

The company, Shenzhen QVOD Technology Co, an Internet video services provider, requested the hearing. The outcome is expected to be announced in about a week.

According to the Shenzhen Market Supervision Administration, the fine amounted to triple the gains for the company from illegal practices.