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CN SAMR Summons Alibaba, Tencent Over Ending 'Involutionary' Competition
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China's State Administration for Market Regulation (SAMR) summoned platform companies, including BABA-W (09988.HK), Douyin, BIDU-SW (09888.HK), TENCENT (00700.HK), JD-SW (09618.HK), MEITUAN-W (03690.HK), and Taobao Instant Commerce. These companies were required to strictly comply with the provisions of laws and regulations such as the anti-unfair competition law, the price law, the consumer rights protection law, and the e-commerce law. The SAMR urged these companies to further regulate their promotional activities and eliminate all forms of "involutionary" competition, maintaining a fair competitive market environment. AAStocks Financial News |
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