China has tightened the rules for internet companies in an attempt to stop unfair competition. This was shown on Tuesday by draft documents from the supervisor, according to local media.
It is mainly about how companies are allowed to handle user data. Among other things, the use of fake reviews is restricted and the removal of negative reviews should no longer be allowed. The use of algorithms must also comply with new rules.
Internet giant Tencent, in which Western investment funds hold shares, fell more than 4 percent on Tuesday. Alibaba showed a similar loss.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
