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The Nexus
BUSINESSJun 11 · 19:47 UTCASIA TIMESJeff Pao

Beijing reins in Alibaba, JD.com over destructive 618 price cuts

Beijing's market regulator summoned five major e-commerce platforms, including Alibaba and JD.com, over deceptive promotional practices ahead of the 618 shopping festival. Alibaba's shares fell 5.4% and JD.com's dropped 2.9% following the regulatory action.

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AlibabaorganizationJD.comorganizationPDD HoldingsorganizationBeijing’s market regulatororganization618 shopping festivaltopic
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