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China tech

China's tech giants enter tighter regulatory era under antitrust law

New rules codify enforcement already felt by Alibaba, Meituan

Chinese tech company Alibaba Group Holding received a record fine from antitrust regulators well before the country enacted the new rules.   © Reuters

BEIJING -- China's revised antitrust law took effect Monday, ushering in tighter controls on the country's fast-growing private-sector tech companies.

The new rules impose tougher penalties for violations and prohibit large tech companies from using their market advantage to coerce smaller vendors into exclusive business contracts. The changes represent the first amendment to the Anti-Monopoly Law since it was enacted in 2008.

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