China Joins The Push To Rein In Tech Giants

China is adding new momentum to efforts in Brussels and Washington to curb the power of big tech companies, reported The Wall Street Journal.

China recently joined the chorus of governments advancing plans to impose new competition obligations on a small cadre of large technology companies, including Amazon, Facebook, and Alibaba Group.

In November, China unveiled its first draft guidelines overseeing competitive behavior by digital giants. The proposals include blocking companies from crunching consumer data to set discriminatory prices, or selling products at prices below cost to gain market share. This month, it heightened scrutiny of electronic-payment companies, warning that non-bank payment firms, if found to be dominating the market, could face antitrust investigations.

China’s moves come as the European Union and the UK pursue similar efforts. In December, an EU bill was proposed to oblige major digital platforms to refrain from many potentially anti-competitive actions, such as promoting their own products over those of competitors. The UK plans legislation empowering a new digital-competition unit to enforce codes of conduct for companies that dominate strategic digital markets.

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