Chinese regulator asks Lalamove to make changes to comply with antitrust rules
The firm says it has “completely accepted” the regulator’s requirements and made the necessary changes
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[BEIJING] China’s market regulator said it had overseen efforts by delivery and logistics firm Lalamove to comply with anti-monopoly rules following a review, according to a statement released on Thursday (Jun 18).
The State Administration for Market Regulation (SAMR) summoned Hong Kong-based Lalamove to a meeting in September, demanding the company abide by China’s anti-monopoly law and compete fairly.
During the meeting, the regulator asked Lalamove to take steps to ensure its operations complied with the law, the Thursday statement showed.
Lalamove should stop using algorithms to cut freight prices to unreasonably low levels and promote a reasonable rebound in freight rates, the SAMR said.
The company was also asked to protect drivers’ rights, refund 120 million yuan (S$22.9 million) in alleged unreasonable charges to drivers and lower the commissions it takes from drivers.
Lalamove said in a statement on Thursday that it had “completely accepted” the regulator’s requirements and made the necessary changes. REUTERS
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