Technology

China drafts new antitrust guideline to rein in tech giants, slamming ATM stocks from record highs



China has released a draft antitrust guideline to rein in internet-based monopolies, signalling policymakers’ heightened concerns over the growing power, influence and risks of digital platforms and their market practices in the economy. Alibaba Group Holding, Tencent Holdings and Meituan, popularly known as ATM trio, slumped.Monopolistic practices by internet platforms, such as demanding vendors to transact only on one platform exclusively, or providing differentiated prices to customers based…



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