Meituan Shares Slide After China Urges Moderation in Online Fees

Shares of Meituan fell after Chinese regulators issued draft guidelines over the fees online platforms charge merchants, spooking investors already concerned about slowing growth in the country’s e-commerce space.

Platform operators’ charges should be reasonable and take into account the operational status of merchants, the State Administration for Market Regulation, the country’s anti-monopoly regulator, said in a statement Sunday. Meituan fell as much as 6.4% in Hong Kong on Monday, its biggest intraday decline in more than a month.