Beijing is summoning executives again, but here's why that's causing less worry than in 2021
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- Beijing has stepped up corporate regulatory enforcement this year, though analysts say it's unlikely to pursue a repeat of the 2021 crackdown that wiped out more than $1 trillion from Chinese tech stocks.
- They also sent a stern warning earlier this month to Walmart China over repeated food-safety failures at its wholesale retailer Sam's Club.
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Beijing has stepped up corporate regulatory enforcement this year, though analysts say it's unlikely to pursue a repeat of the 2021 crackdown that wiped out more than $1 trillion from Chinese tech stocks.
Since January, officials have opened a formal antitrust probe into the country's largest online travel agency Trip.com and summoned a dozen tech giants — including Alibaba, Tencent, ByteDance's Douyin, Baidu, JD.com and Meituan — over aggressive price competition and promotional claims ahead of a shopping festival in June. They also sent a stern warning earlier this month to Walmart China over repeated food-safety failures at its wholesale retailer Sam's Club.