The latest wave of antitrust penalties for China tech giants shows that the crackdown has not ended, and will only grow in scope and severity.
As Meituan dominates food delivery, many of the restaurants whose food it delivers are struggling to get by. Regulators are asking why.
Scrutiny of internet firms for antitrust issue is on the rise in China, with fines for deals invovling Alibaba, Tencent, and SF Express.
Some of the China’s top internet-based services, including Alipay, Meituan, WeChat, and Taobao, are subject to the new antitrust rules.
The antitrust rules will subject some of China’s biggest internet companies, such as Alibaba and Meituan, to tougher regulations.
China’s market regulator is investigating Didi on whether it violated antitrust rules, Reuters said. Didi said that was “unsubstantiated speculation.”
China issued fines to companies including Alibaba, Tencent, and Didi Chuxing, who were involved in 10 investment deals that violated antitrust laws.
China’s top watchdog is investigating food-delivery giant Meituan over forced exclusivity practices, it said on Monday, after issuing an earlier warning.
China is tightening its grip on tech giants with antitrust punishments against some of its biggest internet firms following the Ant Group IPO suspension.
A record penalty on Alibaba highlights Beijing’s continued efforts to curbs on anti-competitive practices by China’s largest tech firms.