Shanghai’s market regulator has summoned a dozen eCommerce firms, including food delivery platforms Meituan and eleme.me, to discuss a range of topics including allegations of price gouging during the COVID pandemic.
As Reuters reported Monday (April 18), the regulator told platforms to improve the way they manage delivery riders and curtail practices like improper price increases by riders.
Price gouging has been an issue in the U.S., as well. In February, Sen. Richard Blumenthal (D-Conn.) said his office received 800 reports of price gouging in his home state of Connecticut and insisted the lack of regulation by the federal government has contributed to the problem.
“There is a glaring lack of enforcement at the federal level,” Blumenthal said at a hearing in early February. “The federal government, including the Federal Trade Commission and the Department of Justice, have few legal tools to hold price gougers accountable.”
China’s eCommerce sector has been under pressure from authorities for some time, with The State Administration of Market Regulation (SAMR) launching an antitrust investigation into Meituan in April 2021, focusing on vendors being forced to use its platform exclusively. The SAMR imposed a record $2.75 billion fine on e-commerce giant Alibaba in April for the same practices.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Apple Prevails in Dismissal of Crypto-Payment Antitrust Lawsuit
Mar 27, 2024 by
CPI
Amazon Fined in Poland for Misleading Customers
Mar 27, 2024 by
CPI
Credit Card Rewards Under Threat as Visa, Mastercard Settlement Impacts Swipe Fees
Mar 27, 2024 by
CPI
UK Fashion Giants Commit to Honest Environmental Claims
Mar 27, 2024 by
CPI
Former Traders Lose Appeal Against Libor Rigging Conviction
Mar 27, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI