Beijing just tore up the playbook for its Internet behemoths

Antitrust watchdog’s move could aid the rise of challengers to the likes of Alibaba and Tencent

Draft rules detailed by China's antitrust watchdog could place Internet giant Alibaba, as well as others like Tencent Holdings, Meituan, JD.com and Baidu, in the regulator's sights. PHOTO: REUTERS
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(BLOOMBERG) - All the things that allowed China's Internet innovators to become big, powerful and hugely profitable are under threat. The implications are chilling for established players.

Draft rules detailed by China's antitrust watchdog on Tuesday are aimed at rooting out monopolistic practices among Internet companies. It is seeking feedback on a raft of regulations that would curb anti-competitive behaviour such as colluding on sharing sensitive consumer data, alliances that squeeze out smaller rivals and subsidising services at below cost to eliminate competitors.

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