Advertisement
Canada markets open in 8 hours 35 minutes
  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     
  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     
  • DOW

    38,460.92
    -42.77 (-0.11%)
     
  • CAD/USD

    0.7304
    +0.0007 (+0.09%)
     
  • CRUDE OIL

    82.93
    +0.12 (+0.14%)
     
  • Bitcoin CAD

    88,064.98
    -3,697.84 (-4.03%)
     
  • CMC Crypto 200

    1,389.82
    -34.28 (-2.41%)
     
  • GOLD FUTURES

    2,326.10
    -12.30 (-0.53%)
     
  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     
  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     
  • NASDAQ futures

    17,459.25
    -205.25 (-1.16%)
     
  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     
  • FTSE

    8,040.38
    -4.43 (-0.06%)
     
  • NIKKEI 225

    37,711.17
    -748.91 (-1.95%)
     
  • CAD/EUR

    0.6817
    -0.0002 (-0.03%)
     

Chinese Internet firms pledge to avoid anti-competitive behaviors

FILE PHOTO: A Baidu sign is seen at the World Internet Conference (WIC) in Wuzhen

BEIJING (Reuters) - A dozen Chinese Internet platform companies pledged to avoid anti-competitive behaviors such as forcing vendors to use their platform exclusively, according to a statement on Wednesday from the State Administration for Market Regulation.

Companies including Baidu, JD.com, and Bytedance have made promises to stop using such banned practices, including over-harvesting consumer data and abusing their market dominance position, the statement said.

This is the first batch of the 34 companies including Tencent that were ordered by China's market regulator to conduct self-inspections for illegal business behaviors within one month, warning of "severe punishment" for any that still violated the rules.

(Reporting by Colin Qian and Vincent Lee; Editing by Shri Navaratnam)