China’s market regulator fines 5 platforms over price war to grab share
Zhang Dan and Yang Kunyi Published: Mar 03, 2021 08:38 PM
A resident selects vegetables at a supermarket in Xiangfang District of Harbin, northeast China s Heilongjiang Province, Jan. 30, 2021. Price and supply of daily necessities are stable in Harbin amid the ongoing COVID-19 pandemic, local authorities told a press briefing here on Saturday. (Xinhua/Wang Jianwei)
China s State Administration for Market Regulation (SAMR) fined five community group-buying online platforms on Wednesday citing improper price competition practices, a move that shows the country s strengthening supervision of emerging online businesses and efforts to deter technology giants from becoming monopolistic in their businesses.
China fines group-buying platforms owned by Meituan, Pinduoduo over improper pricing reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.