“These companies had been allowed to flourish without a lot of scrutiny. “It’s really significant and could have a major impact,” says Rebecca Fannin, author of Tech Titans of China. Today, new rules are fast emerging for China’s wealthiest tycoons: don’t publicly criticize the Party keep a low profile give workers a fairer shake and make state priorities your priorities. But a key distinction in China is that e-commerce counts for a much larger proportion of overall retail than the U.S., meaning market dominance greater impacts both consumers and the overall economy. is engaged in its own debate with big tech. China is not the only country grappling with antitrust issues: the U.S. Critics say the tech industry had, in the pursuit of growth at all costs, coalesced behind a few monopolistic giants, while crowding out true competition and innovation. What’s clear is that the playing field for China’s tech sector is undergoing a sweeping releveling. Then, last month, China’s chief antitrust watchdog published remarkably similar statements from 12 top tech companies in the country, expressing that they committed to avoiding engaging in anticompetitive behavior. In early March, the community group-buying services of food delivery company Meituan, e-commerce giant Pinduoduo, ride-hailing service Didi Chuxing and Alibaba-backed Nice Tuan were each fined 1.5 million yuan ($200,000) for unfair competition practices. Tensions between Ma-once China’s richest man-and officials might have catalyzed regulators, but the wheels of a harsh new regulatory regime were already gathering pace. “It is not lost on us that today’s society has new expectations for platform companies, as we must assume more responsibilities as part of the nation’s economic and social development,” Alibaba wrote in a statement following the fine.
0 kommentar(er)
