May. 26, 2021
China's Leading Property Broker Dismisses Report of Antitrust Probe
BEIJING, May 25 (TMTPOST)— The recent report about antitrust probe by China’s top market regulator was false news, KE Holdings (“Beike”)announced on Tuesday. Earlier that day, Reuters quoted people familiar with the matter that the State Administration for Market Regulation (SAMR) launched an investigation into the country’s leading property platform. It is reported that SAMR wants to see whether Beike had violated China’s Anti-Monopoly Law for the so-called ”choose one between two” practice, which means to forces property developers to list housing information only on two platforms operated by Beike. SAMR didn’t unveil any regulatory enforcement or signal Beike had any suspected practices by the end of Tuesday. However, Beike’s US-listed shares tumbled as much as 7.9% and settled 2.8% lower that day.
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