SHANGHAI -- China's antitrust watchdog has levied fines against Pinduoduo, Meituan and three other online sellers, saying they engaged in improper pricing practices that threaten to undercut small businesses.
The penalties range from 500,000 yuan to 1.5 million yuan ($77,280 to $231,840), the State Administration for Market Regulation said Wednesday. Each is accused of offering vegetables and other perishable foodstuffs at prices well below what are found at neighborhood markets.
