Cybernews
  • News
  • Editorial
  • Security
  • Privacy
    • What is a VPN?
    • What is malware?
    • How safe are password managers?
    • Are VPNs legal?
    • More resources
    • Strong password generator
    • Personal data leak checker
    • Antivirus software
    • Best VPN services
    • Password managers
    • Secure email providers
    • Best website builders
  • Follow
    • Twitter
    • Facebook
    • YouTube
    • Linkedin
    • Flipboard
    • Newsletter

© 2021 CyberNews - Latest tech news, product reviews, and analyses.

Our readers help us create quality content. If you purchase via links on our site, we may receive affiliate commissions. Learn more

Home » News » China issues new anti-monopoly rules targeting its tech giants

China issues new anti-monopoly rules targeting its tech giants

by Reuters
8 February 2021
in News
0
China issues new anti-monopoly rules targeting its tech giants
6
SHARES

China’s market regulator released new anti-monopoly guidelines on Sunday that target internet platforms, tightening existing restrictions faced by the country’s tech giants. The new rules formalize an earlier anti-monopoly draft law released in November and clarify a series of monopolistic practices that regulators plan to crack down on.

The guidelines are expected to put new pressure on the country’s leading internet services, including e-commerce sites such as Alibaba Group’s Taobao and Tmall marketplaces or JD.com. They will also cover payment services like Ant Group’s Alipay or Tencent Holding’s WeChat Pay.

The rules, issued by the State Administration for Market Regulation (SAMR) on its website, bar companies from a range of behaviour, including forcing merchants to choose between the country’s top internet players, a long-time practice in the market.

SAMR said the latest guidelines would “stop monopolistic behaviours in the platform economy and protect fair competition in the market.”

The notice also said it will stop companies from price fixing, restricting technologies and using data and algorithms to manipulate the market.

In a Q&A accompanying the notice, SAMR said reports of internet-related anti-monopoly behaviour had been increasing, and that it was facing challenges regulating the industry.

“The behaviour is more concealed, the use of data, algorithms, platform rules and so on make it more difficult to discover and determine what are monopoly agreements,” it said.

China has in recent months started to tighten scrutiny of its tech giants, reversing a once laissez-faire approach.

In December, regulators launched an antitrust investigation into Alibaba Group following the dramatic suspension of the $37 billion initial public offering plan of its payment affiliate, Ant Group.

At the time, regulators warned the company over practices including forcing merchants to sign exclusive cooperation pacts at the expense of other internet platforms.

(Reporting by Cate Cadell in Beijing and Brenda Goh in Shanghai; Editing by Hugh Lawson and Susan Fenton)

Share6TweetShareShare
Next Post
Chinese users flock to U.S. chat app Clubhouse, evading censors

Chinese users flock to U.S. chat app Clubhouse, evading censors

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Editor's choice

COMb data leak - Mother of all breaches
News

COMB: largest breach of all time leaked online with 3.2 billion records

by Bernard Meyer
12 February 2021
37

It's being called the biggest breach of all time and the mother of all breaches: COMB, or the Compilation of...

Read more
14 million Amazon and eBay accounts sold online in new leak

14 million alleged Amazon and eBay account details sold online

17 February 2021
The hype around quantum computing: it’s not too early to get in

The hype around quantum computing: it’s not too early to get in

15 February 2021
Facebook phishing campaign that tricked nearly 450,000 users in Germany is now spreading in the UK

Facebook phishing campaign that tricked nearly 450,000 users in Germany is now spreading in the UK

15 February 2021
Cyberpunk 2077 maker CD Projekt Red has GWENT source code leaked after ransomware attack

Cyberpunk 2077 maker CD Projekt Red has GWENT source code leaked after ransomware attack

10 February 2021
  • Categories
    • News
    • Editorial
    • Security
    • Privacy
  • Reviews
    • Antivirus Software
    • Password Managers
    • Best VPN Services
    • Secure Email Providers
    • Website Builders
  • Tools
    • Password generator
    • Personal data leak checker
  • Engage
    • About Us
    • Send Us a Tip
    • Careers
  • Twitter
  • Facebook
  • YouTube
  • Linkedin
  • Flipboard
  • Newsletter
  • About Us
  • Contact
  • Send Us a Tip
  • Privacy Policy
  • Terms & Conditions
  • Vulnerability Disclosure

© 2021 CyberNews - Latest tech news, product reviews, and analyses.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.

Home

News

Editorial

Security

Privacy

Resources

  • About Us
  • Contact
  • Careers
  • Send Us a Tip

© 2020 CyberNews – Latest tech news, product reviews, and analyses.

Subscribe for Security Tips and CyberNews Updates
Email address is required. Provided email address is not valid. You have been successfully subscribed to our newsletter!