China will strengthen anti-trust regulatory powers to push forward healthy, sustainable development of internet platforms, state CCTV television quoted President Xi Jinping as saying at a regular top-level economic meeting on Monday, March 15.
China will improve the making of laws and regulations over internet platform companies to “fill in the gaps and loopholes in rules” to step up regulatory framework design on data ownership. It will also urge internet platforms to enhance their responsibility on data security, according to the report.
Chinese leaders have been drumming up anti-monopoly legislation and regulations since last year, targeting big internet platforms that leverage their market dominance to curb rivals.
In February, China issued formal guidelines aimed at reining in anti-competitive behavior by internet platform operators, fleshing out existing regulatory powers. Meanwhile, the country is conducting a major overhaul of antitrust law in a bid to make the statute better fit the internet sector.
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