China's top market watchdog launches an investigation into Tencent-invested online discount retailer vip.com over alleged unfair competition

China's top market watchdog launches an investigation into Tencent-invested online discount retailer vip.com over alleged unfair competition

China's top market watchdog has launched an investigation against online discount platform vip.com over alleged unfair market competition, a move which analysts said sends a clear signal that Beijing will resolutely double down anti-monopoly effort on the internet industry irrespective of the size of the platform.The State Administration for Market Regulation (SAMR)'s move was based on tip-offs, the Xinhua News Agency reported. Vip.com was founded in 2008, specializing in selling discounted handbags, cosmetics products, and baby products. It was listed in the New York Stock Exchange in 2012. Chinese internet giant Tencent is also an investor in vip.com.In response, Vip.com …
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