China launches antitrust probe into food delivery giant Meituan

Reuters2021-04-26

BEIJING, April 26 (Reuters) - China's market regulator said on Monday that it has launched an antitrust investigation into food delivery giant Meituan , the latest target in a widespread crackdown on the country's sprawling internet economy.

The State Administration for Market Regulation said in a statement that its investigaton is focused on the practice whereby a company forces vendors to use their platform exclusively.

Meituan said that it will actively cooperate with the regulatory authorities to investigate, further improve the level of business compliance management, protect the legitimate rights and interests of users and all parties, promote the long-term healthy development of the industry, and earnestly fulfill its social responsibility.

Meituan said that at present the company's business is running normally.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Snickahsnick
    2021-04-27
    Snickahsnick
    It is about time. Better regulation and better monitoring means more stable markets, more stable growth, healthier economy and better customer experience
  • A68
    2021-04-27
    A68
    [Smile] 
  • XuanCheng
    2021-04-26
    XuanCheng
    Commwnt and like plsss thanks!
  • seejy
    2021-04-26
    seejy
    oh no another alibaba[流泪] 
  • Ericlam
    2021-04-26
    Ericlam
    Get ready to paid fine
  • 666huat666
    2021-04-26
    666huat666
    Meituan will go right up and down...
Leave a comment
11