China draws up first anti-monopoly rules to increase scrutiny of tech giants
Tencent shares drop 4.4% and Meituan plummets 10.5% after the government says it wants to prevent platforms from dominating the market
10 November 2020 - 19:55
Beijing/Shanghai — China on Tuesday published draft rules aimed at preventing monopolistic behaviour by internet platforms, a move that will increase scrutiny on e-commerce marketplaces and payment services belonging to the likes of Alibaba Group.
China's State Administration for Market Regulation (SAMR), which issued the draft, said it wanted to prevent platforms from dominating the market or from adopting methods aimed at blocking fair competition...
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