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The China News Database was last updated at 01:50PM on November 9, 2023.
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15 articles matching the search query.
China to 'perfect' legal rules against unfair competition
Crackdowns and common prosperity: “China will pick up the pace in ‘perfecting’ legal rules against unfair competition among companies,” according to a market watchdog official cited by Reuters. The focus will be on “the platform economy, technological innovation, information security and livelihoods.”
What’s Behind China’s Regulatory Storm
Scholar Barry Naughton comments on China’s “regulatory storm”: “The reality is that many of the Chinese actions have a reasonable regulatory rationale, and can be easily defended on an individual basis. But taking a broader view, there is no question that the latest government actions represent a substantial expansion of the power of the government and the Chinese Communist Party,” Naughton writes in the Wall Street Journal. “This new hyperpoliticized reality is likely to do long-term damage to the performance of the Chinese economy and certainly poses new risks to investors and business operators.”
Alibaba Splits Main E-Commerce Business Into Two, Appoints New CFO in Major Reshuffle
Alibaba has split its ecommerce business in two, one focused on China and the other on overseas business, in response to a stricter regulatory environment, Yicai reports. A new chief financial officer has also been hired. See also coverage in the Financial Times, Bloomberg, and the Wall Street Journal.
China Fines Alibaba, Tencent in Latest Antitrust Investigation
Just another day in antitrust enforcement: “Alibaba, Tencent, and Baidu are the target of another round of antitrust fines on Saturday [November 20] totaling 21.5 million yuan ($3.4 million),” per Bloomberg via Caixin. Other big names in China tech such as JD.com, ByteDance, and Meituan were also “fined 500,000 yuan ($78,000) for each violation” of antitrust law, TechNode reports. Caixin notes that the “first salvo since the appointment of Gān Lín 甘霖 as the head of the country’s anti-monopoly bureau” was met mostly with a shrug by markets.
Twitter-like Weibo sued in China for restricting data access
China has seen its first civil antitrust lawsuit after a small software company sued Weibo for alleged anticompetitive restrictions, giving Beijing a chance to flex its antitrust muscles.
China’s antitrust agency could grow by a third as rules on Big Tech tighten
The antitrust bureau of the State Administration for Market Regulation posted online that it is looking for 18 new hires as Beijing’s anti-monopoly drive continues unabated.
Xi Vows to Support Healthy Development of $6 Trillion Tech Sector
The internet crackdown is far from over: Xí Jìnpíng 习近平 called for tighter regulation of China’s $6 trillion tech sector. Related: Reuters says that China is readying a plan to elevate the status of its antitrust unit.
Red Vs are coming after Chinese LGBTQ+ groups
WeChat’s closure of student-run LGBTQ+ accounts triggers another wave of nationalist frenzy and an antitrust report.
China antitrust regulator launches probe of Meituan
Food delivery app investigated over exclusive sales deals with merchants
Exclusive: Tencent boss meets China antitrust officials as scrutiny widens - sources
Pony Ma, the founder of Tencent Holdings, China's biggest social media and video games company, met with antitrust watchdog officials this month to discuss compliance at his group, three people with direct knowledge of the matter said.
China's Tencent faces concessions to win green light for giant videogaming merger: sources
Chinese internet giant Tencent Holdings Ltd is having to offer concessions in a plan to merge the country's top two videogame live-streaming sites in order to resolve antitrust concerns, two people with knowledge of the matter told Reuters.
China court accepts ByteDance case filing against Tencent over alleged monopoly
ByteDance is bringing its battle with archrival Tencent to the court at a time when the Chinese government moves to curve the power of the country’s internet behemoths. The Beijing Intellectual Property Court has permitted a ByteDance lawsuit brought against Tencent to proceed, a ByteDance spokesperson confirmed with TechCrunch. Upstart new media company ByteDance alleged […]
Chinese authorities slap Vipshop with large fine as regulatory arsenal expanded
Chinese regulators have hit online discount retailer Vipshop Holdings Ltd with a 3 million yuan ($464,000) fine, the biggest to date in a recent clampdown on anti-competitive behaviour among internet firms.
China Oceanwide’s $2.7 Billion Takeover of Genworth Financial Passes U.S. Security Review
A U.S. national security panel approved a Chinese conglomerate’s $2.7 billion takeover of Richmond, Va.-based insurer Genworth Financial Inc., after the companies convinced authorities they would take extraordinary steps to secure Americans’ personal data.
Beijing official says Qualcomm-NXP deal looking more optimistic: WSJ
Qualcomm Inc's $44 billion deal to buy Dutch chipmaker NXP Semiconductors NV is looking "more optimistic now", the Wall Street Journal quoted a Beijing official as saying.