China Summons Alibaba, Other Platforms Over Pricing Practice
The Alibaba Group Holdings Ltd. headquarters in Hangzhou, China.
Photographer: Qilai Shen/BloombergChina’s market regulator summoned major online platform companies on Friday, directing them to comply with laws and regulations, and rein in promotional practices.
The State Administration for Market Regulation called in companies including Alibaba, Douyin, and Meituan and told them to eliminate all forms of so‑called “involution‑style” competition, according to a statement posted on the agency’s official Wechat account on Saturday.