Beijing wants to strengthen competition authority

The Chinese competition authority wants to increase its staff by 20 to 30 employees. In addition, the authority is to be provided with more financial resources to take action against anti-competitive behavior, Reuters reported, citing informed circles. According to the report, the State Administration for Market Regulation currently employs “about 40 people”. Only on Saturday, the authority had imposed a record fine against Alibaba in the amount of the equivalent of €2.3 billion. The background was the result of an investigation according to which Alibaba abused its dominant position.