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China Reaffirms Pledge to Eradicate Internet Sector ‘Corruption’

Beijing says efforts will be made to investigate and punish the corrupt behaviour behind the disorderly expansion of capital and platform monopolies


Kuaishou Partners With Meituan
People walk past a Meituan logo at the 2021 World Artificial Intelligence Conference in Shanghai. Photo: Reuters.

 

The Chinese Communist Party’s anti-corruption watchdog said it would focus on “new challenges and new situations” in its latest crackdown, pledging to investigate and punish illegal behaviour found behind internet platform monopolies.

Beijing has since last year reasserted control over its once-freewheeling internet sector, punishing prominent operators for engaging in what were previously considered regular market practices.

China has also drafted new rules to change how they compete and engage users.

The latest probe comments came in a statement published on Thursday on the website of the Central Commission for Discipline Inspection (CCDI).

“Efforts will be made to investigate and punish the corrupt behaviour behind the disorderly expansion of capital and platform monopolies, and cut off the link between power and capital,” it said

It added that ensuring the practice of strict financial discipline, dealing with corruption in infrastructure construction and public resource transactions, as well as corruption governance in the financial sector, were also focuses for action going forward.

China hit companies such as Alibaba Group and Meituan with large fines last year for monopolistic behaviour and officials have laid out new guidelines on how they expect internet platforms to conduct themselves.

 

  • Reuters, with additional editing by George Russell

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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