China Probes Meituan and Alibaba Units
Chinese regulators are investigating units of Meituan and Alibaba for suspected unfair competition. The probe targets online travel and booking platforms as Beijing cracks down on monopolistic behavior.
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China launched antitrust investigations into units of MEITUAN-CLASS B and ALIBABA GROUP HOLDING LTD for suspected unfair competition. The regulatory crackdown follows a 5.2 billion yuan ($776M) fine levied against TRIP.COM GROUP LTD over online booking monopolies. Beijing is tightening scrutiny on digital platforms as the slowing domestic economy weighs on consumer spending.
