China issues new anti-monopoly regulation to prevent tech giants from abusing dominant market position
The Chinese State Administration for Market Regulation (SAMR) issued new antitrust rules against internet platforms in the country. The new regulation bars tech companies from forcing sellers to choose only one e-commerce site to operate within, as well as prohibitions on price fixing, technology restrictions, and using data and algorithms to manipulate the market. The regulation will put pressure on several companies that are already facing antitrust investigation, including the Alibaba Group. The SAMR aims to stop monopolist behaviour in the platform economy and ensure fair competition in the market.