China’s antitrust regulators announced a probe into online food delivery, travel and services giant Meituan. The announcement of the investigation comes after regulators levied a record $2.8 billion fee on Alibaba. Meituan, one of China’s most valuable tech companies worth $230 billion on the Hong Kong stock exchange, said it would cooperate with the investigation. The government said...
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The Takeaway Asia
What the Heck Is Going On in China?
It’s been a few months of startling headlines out of the China tech sector as the government has initiated an unprecedented crackdown across all corners of China’s tech economy. More on why it is happening later—first let’s consider some of the carnage.
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