Rattled Chinese tech giants pledge to end unfair competition

JD.com was among Chinese tech firms who issued a public pact to abide by anti-monopoly guidelines AFP/GREG BAKERBEIJING: More than 20 Chinese tech giants have made a public pact to abide by anti-monopoly guidelines, after regulators told them to note"the warning" of a record fine against e-commerce giant Alibaba.

The oaths come after regulators summoned 34 tech companies on Tuesday and warned them to"rectify" any anti-competitive measures and"heed the warning of Alibaba's case". Ride-hailing service Didi, video platforms Kuaishou and Bilibili, as well as e-commerce firm JD.com are also among those who have since published commitments.JD.com said it would not force the practice of"choosing one of two" on its retailers - where merchants are compelled to work only with one platform and not its rivals - a move which Alibaba had come under fire for.

The next front in Beijing's assault on big tech could be the huge volumes of data they scoop up from China's consumers.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EU wants firm pledges from tech giants in fake news fightFacebook, Alphabet unit Google and other tech giants will have to pledge to do more to curb the monetisation of false information through ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Is Alibaba's fate a warning to China’s tech giants?It was a wake-up call for others in the tech sector when Alibaba was fined and officially reprimanded. YahooFinance Move to Singapore 😀 Hope the American government could learn something out of it. But that won't happen. Simply too arrogant and dumb.
Source: YahooSG - 🏆 3. / 71 Read more »

China approves ETFs tracking HK-listed tech giants - state mediaChina has approved domestic fund managers' first exchange-traded funds (ETFs) based on Hong Kong's Hang Seng TECH Index, state media said on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Commentary: China's tech firms were supposed to help achieve the Chinese DreamSeveral developments point to a huge shift in the regulation of China’s digital space, says a media professor. Regrets ? too late, money makes Ma thinks he is bigger than the CCP !
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Commentary: Gulf between Apple patrons and PC users just got widerThe introduction of the New iMac moves the tech giant one step closer to an ambitious goal, says SUSS’ Dr Vanessa Liu and Dr Lau Kong Cheen
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »