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2026-04-20 11:11:46 Citi issued a report stating that the State Administration for Market Regulation announced on April 17 that it had imposed total fines of RMB3.6 billion on seven e-commerce platforms, including ALIBABA (09988.HK), Douyin, PDD (PDD.US), MEITUAN (03690.HK) and JD.COM (09618.HK), over food safety violations. The move is considered reasonable and manageable. The bank believes the incident should be viewed as a positive development, as it helps eliminate and ease regulatory uncertainty. The enforcement action will also prompt platforms to further enhance food safety controls and product review capabilities, contributing to a safer and more reliable marketplace for consumers. In the long run, this is expected to strengthen consumer trust and promote sustainable industry growth. Among the fines, PDD received the largest penalty of RMB1.5 billion, accounting for 42% of the total. This was followed by MEITUAN (RMB746 million), ALIBABA (RMB637 million), JD.COM (RMB635 million) and Douyin (RMB57 million). (ha/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |