China’s antitrust regulator has fined food delivery group Meituan Rmb3.4bn ($530m) for abusing its market position and has ordered the company to “comprehensively rectify” its operations.
The announcement on Friday by China’s market regulator caps a months-long investigation into the Beijing-based company. It was found guilty of monopolistic practices, such as forcing restaurants to exclusively sell food on its app, in violation of the country’s antitrust rules.
But the fine was lower than expected, which was good news for a sector that has been battered after Beijing launched a crackdown on internet companies for abusive market practices and data security problems this year.
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