Chinese market regulator has fined JD.com, Tmall, and Vipshop RMB 500,000 ($76,000) each for allegedly engaging in improper pricing practices.
According to the People's Daily, the problems with the three online shopping platforms included raising prices before promising discounts, false promotions, and bait-and-switch transactions.
The State Administration for Market Regulation (SAMR) investigated the three platforms for conducting improper pricing practices in their own businesses based on price monitoring and complaints and issued a penalty decision on December 24, 2020.
The three companies are the latest Chinese tech giants to be investigated, with the SAMR fining Alibaba, China Literature, and Shenzhen Hive Box RMB 500,000 each in the middle of this month for unlawfully implementing operator concentration.
China's online-service super-app Meituan has been hit with an antitrust lawsuit that has been filed in the Beijing Intellectual Property Court, China Economic Weekly reported on Tuesday.
According to the notice of acceptance of the civil case of Beijing Intellectual Property Court, a user surnamed Wang sued the operating entity of Meituan App for abuse of dominant market position.
Upon examination, the lawsuit met the conditions for acceptance under the Civil Procedure Law of the People's Republic of China, and the Beijing Intellectual Property Court decided to file a case for trial.
Meituan becomes the latest to be hit by antitrust lawsuit in China
