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China’s watchdog ramps up crackdown on anti-competitive behaviour
- Monday | 12th April, 2021
BEIJING/HONG KONG (Reuters) – China’s competition watchdog is adding staff and other resources as it ramps up efforts to crackdown on anti-competitive behaviour, especially among the country’s powerful companies, people with knowledge of the matter told Reuters. On Saturday, the watchdog slapped a record $2.75 billion fine on Alibaba after an antimonopoly probe found the e-commerce giant had abused its dominant market position for several years. It also mirrors the increasing activism of US and European antitrust authorities in recent years. For now, however, the investor focus is on who among the home-grown technology champions will be the next target of the Chinese antitrust watchdog. “Other tech companies would be wise to assume they may be receiving the same level of scrutiny and penalty,” said Fred Hu, chairman of private equity firm Primavera Group, referring to the fine imposed on Alibaba.
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