China is introducing new rules for the functioning of the online trade market
After a series of antitrust investigations, the country's leadership has developed a better mechanism for monitoring fintech companies providing sites for e-commerce.
China is introducing new rules for the functioning of the online trade market.
He also added that a number of measures will soon be taken to address the main existing problems in China's online commerce market. In addition, officials are going to speed up the creation of an automated system that will collect complete information about current online transactions in real time, which will improve market monitoring and coordination of its participants.
Increased attention from Chinese regulators followed the unspoken public statements of Jack Ma, the owner of the Alibaba Group, after which an antitrust investigation was launched against the e-commerce giant.
Alibaba and Tencent executives have been accused of regularly evading antitrust transactions on their online platforms. A number of other firms involved in the trial were also fined for illegal transactions.
According to the portal IC Insights, last year the sales of chips in China increased by 9% and amounted to $ 143.4 billion. These data indicate that the Chinese market in this segment remains the largest in the world since 2005. It is also reported that 30% of total sales for the period accounted for DRAM and NAND memory chips.