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      'Ghost Deliveries' Busted: China's Massive Crackdown Hits Meituan, Alibaba, And Pinduoduo

      Chinese regulators tightened oversight on food delivery platforms, imposing record fines over food safety lapses and weak merchant screening.

      Regulatory Action And Record Penalties

      China's State Administration for Market Regulation fined major platforms, including Alibaba Group Holding Limited (NYSE:BABA), PDD Holdings Inc (NASDAQ:PDD), and Meituan (OTC:MPNGY), for failing to block unqualified merchants.

      The watchdog collected a total of 3.6 billion yuan ($528 million) through fines and confiscations, also targeting JD.com, Inc (NASDAQ:JD) and ByteDance's Douyin. Authorities described it as the largest penalty on delivery platforms since the food safety law was updated in 2015, Bloomberg


      Source: Benzinga
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