By Reuters Staff
4 Min Read
BEIJING, May 25 (Reuters) - China’s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings, the country’s biggest housing broker whose top backer is Tencent Holdings, two people who know of the matter said.
The investigation is the latest into China’s big so-called “platform” companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers.
KE Holdings, which operates housing platforms Lianjia and Beike in China, was warned last month by the State Administration for Market Regulation (SAMR), along with dozens of internet companies, against any abuse of market dominance and told to conduct self-inspections.
ChinaEXCLUSIVE China launches antitrust probe into Tencent-backed property broker KE -sources
Reuters
5 minute read
A woman wearing a face mask following the coronavirus disease (COVID-19) outbreak rides past real estate broker Lianjia near a residential compound in Beijing, China August 11, 2020. Picture taken August 11, 2020. REUTERS/Tingshu Wang/File Photo
China s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings (BEKE.N), the country s biggest housing broker whose top backer is Tencent Holdings (0700.HK), two people who know of the matter said.
The investigation is the latest into China s big so-called platform companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers.
BEIJING (Reuters) -China s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings, the country s biggest housing broker whose top backer is Tencent Holdings, two people who know of the matter said. The investigation is the latest into China s big so-called platform companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers. KE Holdings, which operates housing platforms Lianjia and Beike in China, was warned last month by the State Administration for Market Regulation (SAMR), along with dozens of internet companies, against any abuse of market dominance and told to conduct self-inspections.
Founder of China’s biggest online real estate platform passed away at 50
May 21, 2021, 10:28
Zuo Hui, founder and chairman of China’s biggest online real estate listings and transactions platform Beike Zhaofang, has died. He was 50.
Zuo, China’s 15th-wealthiest man with a net worth estimated at US$14.8 billion, died of an “unexpected worsening of [his] illness,” according to filing to the New York Stock Exchange, where shares of Beike, also known as KE Holdings, are listed.
“We are very saddened by the passing of Mr Zuo and extend our deepest sympathies to Mr Zuo’s family. Mr Zuo was our visionary founder and leader, and a leading figure in China’s housing transactions and services industry … we will move forward to execute on our strategy and growth initiatives, pursue our mission of admirable service, joyful living,” the company’s chief executive Peng Yongdong said in a statement.
Israel and Hamas agree to ceasefire
A ceasefire took effect early Friday, ending 11 day of rocket fire between Israel and Hamas, the Palestinian militant group which controls the Gaza Strip. More than 240 people were reported killed in the conflict. The agreement was brokered by Egypt and the US. Washington pledged recovery aid to both sides. Sources: BBC, CNBC, DW, Financial Times, The Guardian and NPR.
Biden wants 15% minimum corporate tax rate
Washington has proposed, in international talks, that companies pay at least 15% in tax on their earnings globally. That is below the 21% rate the Biden administration proposed for US firms earlier. Sources: CNBC, Financial Times, Independent and Reuters.