Beijing is starting to wage war against e-commerce giants.
Last week, the country’s General Administration of Market Regulation (GAMR) issued a draft of an “anti-monopoly guideline on the e-commerce sector,” claiming its purpose is to prevent and stop monopolistic practices.
The stock price for these platforms dropped by up to 10 percent after the announcement.
Business professor Frank Xie says he thinks it’s funny for the CCP regime to talk about anti-monopoly, because if any monopoly exists, it’s because the CCP nurtured it.