Key facts
- China's market regulator has summoned major e-commerce platforms.
- The summons addresses excessive competition during the "618" shopping festival.
- Taobao, Tmall, and JD.com were among the platforms summoned.
- Authorities aim to curb price wars and misleading promotional tactics in the e-commerce sector.
Beijing's market regulator has summoned major e-commerce platforms, including Taobao, Tmall, and JD.com, due to excessive competition during the ongoing "618" shopping festival. This move highlights China's intensifying regulatory campaign against ruinous price wars and misleading promotional tactics. Authorities are pushing the country's massive e-commerce sector to shift focus from aggressive discounting towards innovation and quality services.