China regulator warns e-commerce platforms to stop monopolistic practices

Xinhua reported that China's SAMR called more than 20 platforms to a meeting and urged them to stop a practice that requires merchants to sign exclusive cooperation agreements preventing them from selling products on rival platforms. — Reuters

SHANGHAI: China has warned top e-commerce platforms including Alibaba and JD.com to stop practices that could be deemed as monopolistic, as industry frictions grow ahead of the country's banner Singles Day shopping event on Nov 11.

State news agency Xinhua reported on Nov 5 that China's State Administration for Market Regulation (SAMR) called more than 20 platforms to a meeting and urged them to stop a practice that requires merchants to sign exclusive cooperation agreements preventing them from selling products on rival platforms.