HONG KONG -- China's market regulator has launched an antimonopoly investigation against Meituan, the country's largest food delivery and services platform, extending a series of curbs by Beijing to rein in tech companies.
The State Administration for Market Regulation is probing exclusive sales agreements that Meituan has allegedly forced on merchants. It comes after the same regulator imposed a record 18 billion yuan ($2,78 billion) fine on Alibaba Group Holding for a similar practice earlier this month.
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