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Chinese Watchdogs Tell Meituan, Hellobike and Six Other Firms to Fix Price, Competition Practices
Liao Shumin
DATE:  Jun 04 2021
/ SOURCE:  Yicai
Chinese Watchdogs Tell Meituan, Hellobike and Six Other Firms to Fix Price, Competition Practices Chinese Watchdogs Tell Meituan, Hellobike and Six Other Firms to Fix Price, Competition Practices

(Yicai Global) June 4 -- Chinese market regulators have told eight sharing economy companies, including Meituan, Hellobike and Didi Bike, to rectify their price and competition practices.

Besides the three bike-sharing operators, price supervision and anti-monopoly bureaus under the State Administration for Market Regulation also called in five power bank rental firms -- Energy Monster, Dian.So, Laidian Technology, Jiedian Technology, and Soudian Technology, the agencies said in a statement yesterday. Each firm must submit a rectification plan within 30 days.

Businesses in the sharing economy need to build a good market price order, form a long-term mechanism for fair competition, and make their pricing rules open and transparent, the watchdogs added.

Consumers complain that power bank rental firms, for example, charge different phone owners different prices for the same service and may not always clearly state the hourly charge beforehand, Southern Metropolis Daily wrote in a post trending on Weibo. Prices have also been hiked across the board, it added.

The SAMR also recently hauled in 10 ride-hailing platforms over issues such as high commissions, unreasonable rule changes, and unfair cargo information practices.

Editor: Emmi Laine, Xiao Yi
 

 

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Keywords:   Hellobike,Didi Bike,Energy Monster,price discrimination