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Economy

China issues new anti-monopoly rules targeting its tech giants

Guidelines expected to put pressure on Alibaba Group, JD.com

Customer uses a phone to scan the QR code of the electronic payment service Alipay that belongs to Ant Group at a market stall in Beijing.   © Reuters

BEIJING (Reuters) -- China's market regulator released new anti-monopoly guidelines on Sunday that target internet platforms, tightening existing restrictions faced by the country's tech giants.

The new rules formalise an earlier anti-monopoly draft law released in November and clarify a series of monopolistic practices that regulators plan to crack down on.

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