Community group buying: Chinese regulators fine businesses tied to Big Tech for price dumping

Source: South China Morning PostChina’s market regulator has fined some of the country’s largest tech players involved in a fast-growing e-commerce model for slashing prices to edge out competitors, in Beijing’s latest move to rein in China’s Big Tech.Alibaba Group Holding-backed start-up Nice Tuan and the community group buying units under e-commerce platform Pinduoduo, ride-hailing firm Didi Chuxing and online delivery company Meituan were each fined 1.5 million yuan (US$232,000) for breaching the country’s price law, while…Read More

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