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The Diddy logo will appear at the Beijing headquarters on July 16, 2021. Chinese regulators have ordered a ride-hailing platform to fix unfair market tactics amid crackdowns on the Internet sector that surprised investors and cut some valuations by billions of dollars. China’s largest technology company. The ride-haling industry, led by Didi Global and Meituan, employs millions of people, and platforms often compete for market share by offering discounts and incentives. (AP photo / NgHan Guan)
Beijing (AP) — Chinese regulators to fix unfair market tactics amid widespread crackdowns on the Internet sector that surprised investors and cut the valuation of major Chinese tech companies by billions of dollars I ordered a ride-hailing service platform in Beijing.
According to a statement released Thursday, Wednesday’s Ministry of Transport, Internet Watchdog and other regulators will implement unfair competitive tactics and practices, such as recruiting unlicensed drivers on 11 such platforms by the end of the year. I ordered it to stop.
The ride-haling industry, led by companies such as Didi Global and Meituan, employs millions of drivers who are part of China’s growing gig economy, and the platform offers passengers and drivers discounts and incentives. Often, they compete for market share.
The Chinese government has expressed concern about the exploitation of such workers, as they often work long hours and lack basic benefits. In July, China’s state union called for better protection of workers’ rights and encouraged gig economy workers to form unions to strengthen protection.
Sector leader Diddy occupies almost 90% of the Chinese market, but China’s Internet Watchdog is investigating alleged data privacy breaches.
The competition between rivals to acquire customers in the Didi survey has intensified.
Eleven companies were instructed to investigate their business practices, develop compliance plans and fix issues by the end of the year to “promote healthy and sustainable development” in the ridehailing industry. ..
Chinese officials have targeted sectors such as e-commerce and online education in recent months after the technology sector has grown rapidly over the years, amid concerns that it could have a significant impact on society. I am doing it.
Beijing began a barrage of antitrust, data security and other enforcement in late 2020 in an attempt to tighten control over Internet giants such as Alibaba and Tencent.
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