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China’s competition watchdog today came up with its most detailed list to date of abuses it intends to curb, sending shares of a wide range of tech companies lower.
Hours before the release of its latest quarterly earnings, shares in messaging and gaming company Tencent closed down 4.1 per cent, while ecommerce groups JD.com and Alibaba fell 5.2 and 4.8 per cent respectively.
The State Administration for Market Regulation released draft rules, which one analyst described as the “ultimate collection” of bad practices, reports Christian Shepherd in Beijing. “It’s a very long list of behaviours, many of which are rampant,” said Kendra Schaefer of the Trivium consultancy.
They include exploiting users’ data to put them off competitors’ products or services, limiting traffic to other platforms by…
