Alibaba, Mercedes-Benz Among Firms in Talks with China’s Competition Regulator

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China's market regulator held a symposium on fair competition with executives from seven major companies, including Alibaba and LONGi Green Energy, according to a statement from the State Administration for Market Regulation (SAMR) on Wednesday.

During the meeting on Tuesday, the executives discussed the current market landscape, competitive challenges, and shared suggestions for addressing monopolistic practices and unfair competition. Meng Yang, SAMR's deputy director, stated that such seminars would be held regularly to address business concerns and foster a fairer market environment.

Other companies involved in the discussions included Trina Solar, JA Solar, JD.com, BAIC Group, and Mercedes-Benz.

China is encouraging its private companies to boost investments and innovation to combat a slowdown in growth and counter U.S. efforts to limit China's technological advancement.

Last week, President Xi Jinping held a rare meeting with prominent entrepreneurs, including Alibaba's Jack Ma, signaling a shift in Beijing's stance towards its tech giants after a regulatory crackdown four years ago. Additionally, China introduced a plan last week to stabilize foreign investment.

Paraphrasing text from "Reuters" all rights reserved by the original author