Tencent joins China tech firms in pledging antitrust compliance

BEIJING (Bloomberg): Tencent Holdings LtD and Alibaba’s supermarket arm joined their fellow Chinese tech giants in vowing to eradicate monopolistic practices, as the country’s largest corporations rush to publicly align themselves with Beijing.

The WeChat operator, Alibaba’s Freshippo and ride-hailing giant Didi Chuxing were among 11 Chinese tech giants that issued pledges Thursday (April 15) to obey antitrust laws, two days after Beijing gave companies a month to conduct internal reviews and comply with government guidelines.

Twenty-three companies have now issued vaguely worded statements promising everything from consumer rights protection to loosening controls over their platform, stopping short of outlining specific actions.