State Administration for Market Regulation (SARM) Legislation to prevent the absenteeism It has a direct impact on the major technology companies in the country.
The antitrust law was previously drafted in November 2020 and has been aimed at technology companies such as: Taobao of Alibaba Group, Tmall, JD.com Including financial services such as Alipay of Ant Group and WeChat Pay of Tencent
SAMR Stating that “the law will help prevent the platform’s monopoly. And protect fair competition ”due to large scale technology limiting technology prices. Using data and algorithms Until the smaller competitors cannot compete
In late 2020, China began to intensify scrutiny of technology companies. It suspended the company’s initial public offering. Ant Group Which has a fundraising value of more than 3.7 billion US dollars.
And latest SAMR Has warned technology companies to sign a treaty of cooperation, disclosing infrastructure and algorithms. And if they violate the law they may be forced to sell their assets
The origin
