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E-Commerce Meituan Antitrust Fine
China Fines Meituan $530 Million in End to Antitrust Probe
China levied a $533 million fine on Meituan for violating anti-monopoly regulations, ending a months-long probe that had weighed on the country’s food-delivery leader.
The State Administration for Market Regulation国家市场监管总局 imposed a 3.44 billion yuan fine on Meituan, amounting to 3% of its 2020 domestic revenue.
The company will also have to return 1.29 billion yuan of deposits stemming from exclusivity arrangements.
Billionaire Wang Xing’s firm was told to improve its commissions mechanism, ensure the legal rights of restaurant partners and step up protections for its delivery riders.
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