China Takes New Anti-Monopoly Measures Against Big Tech Companies
Forcing players to choose among the top online players, which is the norm in the country
The guidelines are aimed at Chinese heavyweights, including e-commerce providers such as Taobao and JD.com from the Alibaba Group, as well as mobile payment services such as Alipay from Ant Group or WeChat Pay from Tencent.
The crackdown follows growing reports of online antimonopoly behavior, where China is struggling with issues similar to the US, over the uncontrolled growth of big tech.
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The regulator will also keep companies from fixing prices, competitors, according to the country’s competition watcher, and use their data and all go quietly.
Ultimately, the plan is to “stop monopoly behavior in the platform economy and protect fair competition in the market,” states the state administration for market regulation on their website.
The rules cement a bill released in November and build on the regulator’s broader control over the technology sector.
China’s reversal of China’s policy toward local tech giants gained notoriety in recent months when it ordered billionaire Jack Ma to curtail expansion plans for an affiliated company. and wealth management.
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Some of the apps in question are already banned in the US, through an executive order signed by former President Donald Trump at the height of the trade war against China. India also blocked a total of 59 Chinese apps in the aftermath of a territorial dispute with China.
Engadget / TechConflict.Com