The watchdog said it closed 175 cases last year, a jump of 61.5% from a year earlier, when the antitrust bureau was still an internal department within the State Administration for Market Regulation .
The State Anti-Monopoly Bureau said on Tuesday it had achieved “important results” in disciplining monopolistic behaviours and would now focus on restoring market confidence, in a fresh signal that the intense clampdown on the tech sector is largely over. This comes as the Chinese government has been ramping up efforts to stimulate the ailing economy wounded by stringent Covid-19 control measures. In Beijing’s most powerful sign of support for the tech industry, China’s top leadershipto assure them that regulations would be predictable and transparent going forward.
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