WHAT HAPPENED
China’s market regulator is investigating Meituan unit Beijing Sankuai Information Technology for suspected violations of unfair competition laws, the country’s official CCTV broadcaster reported on Saturday. China has been cracking down on monopolistic behaviour, most recently fining Trip. 41 million) over what the regulator said was its online hotel-booking monopoly, as Beijing struggles to bolster consumption amid a slowing economy. Tongcheng and Tujia said in posts on their official WeChat accounts that their operations are normal and that they are cooperating with authorities. Meituan said in a post on its official website that it will cooperate with authorities.
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