China tech crackdown casts pall over June '618' shopping spree

Pinduoduo and Meituan stocks fall after disciplinary action by regulators

NAOKI MATSUDA, Nikkei staff writer

SHANGHAI -- China's antitrust watchdog has ramped up its crackdown on internet companies, raising concerns about Beijing's tightening grip on the tech sector ahead of a major online shopping bonanza held every June.

E-tailer Pinduoduo and food-delivery-app operator Meituan were summoned by the Shanghai Consumer Council last week for what it sees as practices "severely damaging the rights of consumers."

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