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China tech

China completes overhaul of antitrust law to corral Big Tech

Legislation takes effect Aug. 1, keeping pressure on sector despite earlier signs of easing

Alibaba Group Holding has been subject to multiple penalties from China's antitrust regulators.   © Reuters

BEIJING -- Chinese tech companies will face stiffer penalties for crossing Beijing's red lines on competition after lawmakers on Friday approved changes to the country's antitrust law that were years in the making.

The amendments, adopted by the National People's Congress Standing Committee, will go into effect on Aug. 1, Xinhua News Agency reports. The changes are the first to the law since it went into force in 2008.

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