China's supports proposed anti-monopolistic regulations

Nov 16 (Reuters) - China’s e-commerce company “completely supports” anti-monopolistic regulations proposed by Chinese regulators last week, an executive said on Monday on a company earnings call.

Last week, China’s State Administration for Market Regulation published draft rules aimed at preventing monopolistic behavior by internet platforms, a move that will increase scrutiny on e-commerce marketplaces and payment services.

The definitions it provided for internet platforms mean the new rules could apply to e-commerce sites such as Alibaba Group’s Taobao and Tmall marketplaces or and payment services like Ant Group’s Alipay or Tencent Holding’s WeChat Pay.

Food delivery platforms like Meituan could also be included. (Reporting by Eva Mathews in Bengaluru and Josh Horwitz; Editing by Krishna Chandra Eluri)