QUARTERLY UPDATE: JANUARY TO MARCH 2021
China news this quarter is dominated by enforcement in the technology sector This culminated in April's RMB 18 billion (USD 2 8 billion) fine on Alibaba for abuse of dominance, but also includes a string of much smaller fines for failure to file against China's largest tech firms including Alibaba, Tencent, JD com, Baidu, Meituan Dianping Suning, Didi Mobility and Bytedance Other initiatives included the adoption of guidelines for the platform economy and a draft regulation enabling the central bank to alert SAMR when non bank payment providers (such as Alipay or Wechat payment) achieve market power.
Clifford Chance
