The national flag flies outside the China Securities Regulatory Commission (CSRC) office building on Beijing's Financial Street on December 18, 2019. A new amendment to the country’s Anti-Monopoly Law, expected to go into effect next year, could have Big Tech companies facing much higher penalties for abusing market power or failing to disclose mergers. Photo: SCMP/Simon Song
The national flag flies outside the China Securities Regulatory Commission (CSRC) office building on Beijing's Financial Street on December 18, 2019. A new amendment to the country’s Anti-Monopoly Law, expected to go into effect next year, could have Big Tech companies facing much higher penalties for abusing market power or failing to disclose mergers. Photo: SCMP/Simon Song
Regulation

China amends Anti-Monopoly Law for the first time amid tech crackdown, increasing penalties and regulatory control

  • China’s draft amendment for the 13-year-old Anti-Monopoly Law calls for greater control of the tech sector and increases regulators’ discretionary power
  • The amended law is expected to take effect sometime in 2022

The national flag flies outside the China Securities Regulatory Commission (CSRC) office building on Beijing's Financial Street on December 18, 2019. A new amendment to the country’s Anti-Monopoly Law, expected to go into effect next year, could have Big Tech companies facing much higher penalties for abusing market power or failing to disclose mergers. Photo: SCMP/Simon Song
The national flag flies outside the China Securities Regulatory Commission (CSRC) office building on Beijing's Financial Street on December 18, 2019. A new amendment to the country’s Anti-Monopoly Law, expected to go into effect next year, could have Big Tech companies facing much higher penalties for abusing market power or failing to disclose mergers. Photo: SCMP/Simon Song
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