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China tells its tech giants to heed 'warning' in Alibaba's record fine
CNN
The A-list of China's tech industry was summoned before the country's powerful regulators on Tuesday for a dressing down over antitrust behavior, just days after Alibaba was hit with a record $2.8 billion fine for acting like a monopoly.
The State Administration for Market Regulation (SAMR), along with the Cyberspace Administration (CAC) and the State Taxation Administration (STA), met with executives from 34 internet companies, such as Alibaba, Tencent (TCEHY) and ByteDance, the SAMR said in a statement. The meeting was aimed at requiring every company to heed the warning from the Alibaba case and stop anti-competitive and other illegal behaviors, the regulator said. "Internet platform companies must be in awe of and respect the rules," it added.More Related News

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