China finalises Internet antitrust rules in just three months

China is implementing the antitrust rules to create a fair and competitive market environment in the Internet industry according to the country's anti-trust watchdog. — Reuters

China finalised rules to root out monopolistic practices in the Internet industry just three months after unveiling the draft guidelines, underscoring the urgency of a campaign to rein in its tech giants.

The rules, aimed at curbing anti-competitive behaviour such as sharing sensitive consumer data, forming alliances that squeeze out smaller rivals and subsidising below-cost services to eliminate competitors, take effect immediately, according to a statement from the State Administration for Market Regulation. The antitrust watchdog had first sought feedback on the draft legislation in November, sparking a sell-off in the tech industry.