China targets internet platforms in draft anti-monopoly rules

China's market regulator released draft anti-monopoly guidelines on Saturday that target internet platforms in an attempt to reduce unfair competitive practices.

"Monopoly risks are frequent in the platform economy sector," the State Administration for Market Regulation said in an advisory note published with the guidelines on its website.

Some of the risks of market dominance are "unfair pricing, sales below cost, account blocking, 'choose one of two' practices, 'lowest price across the entire network', and discriminatory treatment by platforms," the regulator said.

The guidelines set out how to identify and assess risks that come with certain actions and algorithms.

The draft will be open for public comment until November 29.

Reuters