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The "butterfly effect" after China fines internet giants for irregular pricing
On Dec. 30, the State Administration of Market Regulation (SAMR) took action again to fine JD.com, Alibaba's Tmall and Vipshop 500,000 yuan ($76,657) each for irregular pricing, since it received consumer complaints over the companies' pricing strategies related to Nov. 11 shopping events.
Although the amount of fine is not much, the regulators' stance on regulating e-commerce operations is significant, catering to the current positive pace of Internet anti-monopoly and releasing a strong signal to society to create fair competition. This matter is not difficult to understand when combined with a series of recent movements.
On Dec. 28, Meituan suffered an anti-monopoly lawsuit due to the cancellation of the Alipay channel, which has been filed by the Beijing Intellectual Property Court. Meanwhile, Alibaba is also the focus of regulation, with its stock price having plunged 30% at its peak this year, which made it present a $10 billion buyback programme in this regard.