Regulators summon 34 online companies after imposing record fine on Alibaba

China’s tech companies have been given a month to fix anti-competitive practices and publicly pledge to follow the rules or risk suffering the same fate as ecommerce group Alibaba, which was fined $2.8bn at the weekend.

China’s market and internet regulators and the tax administration issued the ultimatum at a meeting on Tuesday with the country’s 34 leading tech companies, including Tencent, ByteDance, Meituan and Alibaba. Read More