Today, China’s State Market Regulatory Administration (SAMR) issued new antitrust rules targeting internet platforms and tightening existing restrictions facing the country’s tech giants.
The new rules enshrine the norms of the bill presented in November last year. They are designed to suppress a number of practices leading to the strengthening of monopolies. In particular, the rules are expected to change the way the country’s leading internet services, including e-commerce sites Taobao and Tmall, and payment services Ant Group and WeChat Pay.
So, these services will no longer be able to force sellers to choose only one of them. Also, Internet companies will not be able to fix prices, restrict technology diffusion, and use data and algorithms to manipulate the market.
According to SAMR, the new rules “will stop monopolistic behavior in the platform economy and protect fair competition in the marketplace.”
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