The fine from China’s market regulator makes up three per cent of the company’s 2020 domestic revenue and ends a months-long investigation into the country’s biggest food-delivery giant. It was also told to submit compliance reports to the State Administration for Market Regulation for the next three years. Meituan’s stock rose 2.07 per cent in Hong Kong on Friday. (Bloomberg, The Logic)

Talking point: This is Beijing’s second penalty against a major internet company for monopolistic behaviour this year. In April, e-commerce titan Alibaba was fined US$2.8 billion for antitrust abuse. Some analysts had anticipated a much higher penalty for Meituan and said the outcome should reduce investors’ concerns. The penalty comes amid the Chinese government’s continuing efforts to rein in the private sector, including the central bank’s promise of more clampdowns on fintechs.