Chinese food-delivery giant Meituan was hit with a fine of more than $533 million for anticompetitive practices Friday, the latest move by Beijing in yearlong regulatory crackdown to rein in the country’s powerful tech companies.
China’s top commerce regulator, the State Administration for Market Regulation, said it had found Meituan in violation of antimonopoly laws by effectively forcing merchants to sell exclusively on its platform, a practice known in China as “er xuan yi,” or “choose one out of two.” Such exclusivity arrangements have forced many small businesses to pick sides in China’s competitive retail industry.
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Source:" WSJ "