Chinese Competition regulator meets with Mercedes-Benz, Alibaba

The State Administration for Market Regulation, SAMR, announced on Wednesday that China's regulator of the market held a seminar on fair competition, with representatives from seven companies. These included Alibaba and LONGi.

The statement stated that the executives who attended the symposium on February 2nd discussed the market, competition and the difficulties they face. They also made suggestions to combat monopolies and unfair competitors.

Meng Yang was quoted as saying that the SAMR will hold regular seminars to address the concerns of firms and create a more fair market environment.

Trina Solar, JA Solar JD.com BAIC Group, Mercedes-Benz and JD.com were also present.

China encourages its private companies to invest more and innovate to counter U.S. attempts to limit China's technology development and stem the slowdown of growth.

Last week, Chinese President Xi Jinping held a meeting with some of China's most prominent entrepreneurs, including Alibaba's co-founder Jack Ma. This highlighted that concern, and marked a change in Beijing's attitude towards its tech giants following a four-year regulatory clampdown.

China released a plan to stabilize foreign investment last week. (Reporting and editing by Christian Schmollinger, Neil Fullick and Beijing Newsroom)

(source: Reuters)