The Chinese government’s new front line in the fight against the technology giants This time it targets the pricing policy of e-commerce platforms. The state administration for market regulation, China’s highest authority in this field, imposed three fines of 62,500 euros on Alibaba, JD and Vipshop.
The administration explains that it intervened against these three e-commerce platforms following consumer complaints. She accuses companies of increasing their prices just before a sales period and offering non-existent promotions to make the discounts more attractive.
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The three companies contacted by the Wall Street Journal did not answer the questions asked.
For Alibaba, JD, and Vipshop, $ 62,500 is like a tip. However, this sanction embodies a new warning from the Chinese government reminding that the game is being played according to its rules. In the past few months, for example, various attacks have attacked the technology sector and in particular Jack Ma, the founder of Alibaba and Ant Group.
These included the $ 34.4 billion US $ 34.4 billion IPO lockdown in November, which came after the businessman criticized Xi Jinping’s risk control policy. , in which he also criticized the authorities for harming innovation. In December 2020, the Ant government forced its activities to cut back and opened an antitrust investigation into Alibaba.
While it’s clear that the government is trying to downsize Jack Ma’s empire, it may be looking for a place to go as well.