Chinese watchdog warns sharing sector on pricing

Person wearing a mask rides a bicycle of bike-sharing service on a street, almost a year after the start of the coronavirus disease (COVID-19) outbreak, in Wuhan, Hubei
A person wearing a mask rides a bicycle of bike-sharing service on a street, almost a year after the start of the coronavirus disease (COVID-19) outbreak, in Wuhan, Hubei province, China December 17, 2020. REUTERS/Aly Song/Files

June 3, 2021

BEIJING (Reuters) – China’s anti-trust regulator, which has engaged in a sweeping clampdown on the country’s so-called platform economy, on Thursday warned eight companies in the sharing sector to make their pricing policies more transparent.

A statement from the State Administration for Market Regulation said it had summoned officials from eight companies engaged in renting out shared bicycles and power banks for recharging mobile phones to address “pricing irregularities”.

The companies included e-commerce group Meituan, and businesses backed by Alibaba and ride-sharing service Didi, it said.

(Reporting by Sophie Yu and Tony Munroe; Editing by David Goodman)