Hong Kong China's biggest tech companies lost more than $50 billion in market value Tuesday after the government proposed sweeping new rules to further curb anti-competitive behavior among big internet firms.
The latest effort to clamp down on the sector comes from the State Administration for Market Regulation , which has spearheaded the government's antitrust campaign against Big Tech. The rules announced Tuesday would forbid business operators from faking statistics or information about their product orders, sales and user reviews to mislead customers. They would also be banned from fabricating consumer views to hurt the reputations of their rivals.
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