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Collin Furtado · · 1 min readAfter Alibaba, Chinese regulator launches anti-monopoly probe on Meituan
“China’s government has expanded its antitrust crackdown beyond Jack Ma’s technology empire, launching an investigation into suspected monopolistic practices by food-delivery behemoth Meituan,” reported Bloomberg.
Details:
- The State Administration for Market Regulation (SAMR) said it has begun an investigation into Meituan because of alleged abuses including forcing exclusivity agreements.
- Meituan said that it will actively cooperate with the probe and increase its efforts to comply with the regulations.
Context:
- The antitrust investigation comes after SAMR conducted a similar probe into Alibaba, which was concluded this month. The Jack Ma-led company was fined US$2.8 billion for abusing its market dominance, according to the agency.
- Chinese regulators have been taking stringent action against the country’s tech giants. Last month, it was reported that Tencent was next on the SAMR’s watchlist.
Editing by Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
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