Chinese search engine giant 360 Search was fined 2 million yuan ($305,446) for posting false advertisements, Beijing News reported on Tuesday.

The fine was handed down by the Beijing Administration for Market Regulation after an investigation, it said.

In this year's 3-15 Evening Gala — which is produced by China Central Television and broadcast annually on March 15, International Consumer Rights Day — 360 Search was found to have illegally posted fake medical advertisements.

Soon after the fake ads were exposed, the administration investigated Qihoo 360, a Chinese cyber security company, and headquarters of the search engine, and found that the enterprise did not review content uploaded by the agent responsible for the ads, the report said.

Besides pointing out that the company had violated the Chinese Advertising Law, the administration has also forwarded evidence of the agent's suspected violations to the local market regulator for further investigation, it added.

The authority also said it will focus more on sections relating to people's livelihood and start relevant inspections to fight illegal business promotions, keep the municipal market in order and protect the legitimate rights of residents.