We have received your feedback.Thank you for taking your time in view of your busy schedule.
China ups regulation of tech giants with price dumping and monopoly
When the Internet giants were engaged in a fierce competition in the community group-buying field, it was not expected that the regulatory aimed at preventing monopolistic behavior by internet platforms would land within a year.
On December 22, the State Administration for Market Regulation (SAMR), along with the Ministry of Commerce, summoned representatives from China's internet giant to regulate the order of community group-buying, including Alibaba Group, Tencent, JD.Com, Meituan, Pinduoduo, and Didi Chuxing, according to the People's Daily.
New regulations of "Nine No'S" about community group-buying were launched. It required Internet platform enterprises to strictly abide by the rules, involving nine aspects, such as not abusing independent pricing power for vicious price competition, abusing market dominant position, false propaganda and commercial slander, big data "killing", damaging competition order by using technical means, illegally collecting personal information of consumers, and selling fake and inferior commodities.