China to introduce new rules targeting monopolistic practices in internet sector for the first time

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China on Tuesday released draft rules targeting monopolistic practices in the internet industry for the first time, as Beijing seeks to curtail the growing dominance of the industry's giants such as Alibaba Group and Tencent Holdings Ltd.

The rules released by China’s State Administration for Market Regulation (SAMR) establishes a framework for curbing anti-competitive behaviour such as colluding on sharing sensitive consumer data, alliances that squeeze out smaller rivals and subsidizing services at below cost to eliminate competitors.

In addition, monopolistic practices by internet platforms, such as demanding vendors to transact only . . .

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