Does Tencent have a monopoly on China’s prompt messaging market? You may assume so. It has almost 1.2 billion month-to-month energetic customers, the identical firm owns QQ, with greater than 800 million customers. It’s hardly potential to reside in Chinese language cities with out utilizing WeChat to make contact, pay payments, and not too long ago, move well being checkpoints.
However a latest try to show that Tencent is a monopoly on a Chinese language court docket collapsed in January, in keeping with court docket information made public on April 17.
The failed try signifies how restricted China’s present antitrust legislation has been utilized to web companies. The dearth of antitrust enforcement within the digital world has additionally given web giants the implicit nod to abuse their market energy to crack down in opposition to opponents, mentioned specialists.
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