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Miguel Cordon · · 1 min readChina finalizes new anti-monopoly rules for tech companies
“China finalized rules to root out monopolistic practices in the internet industry just three months after unveiling the draft guidelines, underscoring the urgency of a campaign to rein in its tech giants,” Bloomberg reported, citing a statement from the State Administration for Market Regulation (SAMR).
Details
- The rules, which are aimed at reducing anti-competitive behavior such as consumer data sharing and deploying tactics to eliminate competitors, are effective immediately.
- China is implementing these rules to create a fair and competitive market, the government agency said.
Context
- China recently kicked off a probe into Alibaba for its alleged anti-competitive practices weeks after the country said it would strengthen its anti-monopoly efforts this year.
- The tech titan’s CEO Daniel Zhang then told analysts that the firm has set up a task force to conduct internal reviews and communicate with antitrust regulators.
Editing by Collin Furtado and September Grace Mahino
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