China targets unfair practices by internet platforms in new anti-monopoly rules

The government in China released new draft anti‑monopoly rules on Saturday, according to Reuters, saying it wants to stop the biggest internet platforms from using tactics that regulators say harm fair competition. The State Administration for Market Regulation said on its website that “monopoly risks are frequent in the platform economy sector,” and listed problems linked to unfair pricing, sales below cost, account blocking, choose‑one‑of‑two pressure, lowest‑price‑across‑the‑network demands, and algorithm‑driven discrimination. The agency said the draft explains how officials will identify risks that come from actions and algorithms used by large platforms. It will stay open for public comments until November 29, giving companies a short window to respond before the state moves forward. The regulator said the rules are meant to show companies what behavior will count as dominance and why platforms cannot use their size, data, or software tools to squeeze sellers or control user behavior. Officials said they want direct, clear standards for an economy that depends on huge online marketplaces. The move lands in a tense moment for China, with leaders managing slower growth and rising friction with the United States. China expands fiscal tools to support demand Finance Minister Lan Foan told Xinhua News Agency on Saturday that China will widen counter‑cyclical and cross‑cyclical regulation over the next five years. Lan said the state will set the deficit‑to‑GDP ratio and the scale of government borrowing based on changing economic conditions. Lan said China will use the budget, taxation, government bonds , and transfer payments to support both economic development and social programs. Lan said the global environment is “volatile and unstable,” and that rivalry among large countries is “more intricate and intense.” He did not name the United States, but tensions between China and Washington remain high on trade, tech, and supply chains. Lan said spending will increase for the modern industrial system, science and technology, education, and social security. He said fiscal subsidies will help push consumption of goods and services at home as global demand softens. He also said China will coordinate local special‑purpose bonds with ultra‑long special treasury bonds while improving how the state directs public investment. Lan said the tools are meant to support long‑term industries that matter for growth, including technology and manufacturing. He said China will adjust spending when needed to deal with swings in global markets. He described the environment as difficult but pointed to steps meant to keep domestic activity stable as other economies slow down. U.S. lawmakers say China is steering minerals prices for advantage A bipartisan committee in Washington said on Wednesday that China has tried for decades to push global minerals prices, using its control over lithium and rare earths to support its manufacturing base. The U.S. House Select Committee on China released a 50‑page report, reported by Reuters, that said Beijing’s control over critical minerals has helped shape global markets and extend its geopolitical influence. The committee said former President Joe Biden and President Donald Trump both moved to limit China’s dominance in the sector before Trump returned to the White House this year. The legislative report recommends minerals price controls and more government oversight of price reporting agencies. In a statement to Reuters, the Chinese Embassy in Washington said “there is nothing credible about the committee,” and added that China supports “the security and stability of global production and supply chains.” Embassy spokesperson Liu Pengyu urged U.S. politicians to approach the relationship through “common interests,” “peaceful coexistence,” and “win‑win cooperation.” Beijing has said the United States has exaggerated China’s export controls on rare earths and stirred unnecessary panic. But Michigan Republican John Moolenaar, who chairs the committee, said “China has a loaded gun pointed at our economy, and we must act quickly.” The committee said China has targeted lithium and rare earths by raising and lowering prices to support domestic goals. It said that every time lithium prices rose, officials moved to bring them back down. The report said the Trump administration cited pricing concerns in September when it pursued an equity stake in Lithium Americas. It added 13 policy steps, some already taken, and said “one single policy will not completely address the serious challenge the United States faces on critical minerals, so we must simultaneously pursue multiple policy prescriptions.” That warning adds another layer of pressure as China continues to face scrutiny over its control of key materials tied to supply chains that touch everything from electric vehicles to crypto mining hardware. Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.