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…


See also  Barry Diller: Expedia normally spends $5 billion on ads but probably 'won't spend $1 billion' this year

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.