Chinese regulators will carry on an antitrust drive targeting the internet industry this year, putting big tech companies’ overwhelming control of users’ data under closer scrutiny, reported Caixin.
Enhancing anti-monopoly rules remains a top priority in 2021, the State Administration for Market Regulation (SAMR), China’s antitrust watchdog, said this week. The regulator will closely monitor new trends and new issues, blocking companies from using their advantages in data, technology and capital to disrupt fair competition, said Zhang Gong, the head of the SAMR.
Zhang’s comment echoed a remark by the central bank last week pledging to continue the antitrust crackdown while tightening oversight of the internet finance sector, reported Caixin.
Both agencies vowed to implement decisions from China’s top leadership on enhancing anti-monopoly rules and preventing the disorderly expansion of capital.