Unfair competition and antitrust regulation in the field of Internet financial platforms in China

Abstract

The presented article analyzes unfair competition in the field of China’s Internet financial platforms, which is mainly reflected in three aspects such as resistance and rejection by traditional financial platforms in relation to developing Internet financial platforms; resistance and rejection between Internet financial platforms; monopoly problems that the platform itself may face. The paper notes that large-scale platform complexes use the advantages of platforms, data, algorithms and users for random expansion into various industries and penetration into financial markets in order to form a monopoly of the platform-financial complex. This has caused widespread damage to competition, innovation, consumer rights and interests, as well as the stability of the financial system. Therefore, it is urgently necessary to create and improve the management system of the platform economy for its regulation and management. According to the author, the typed means of suppressing anticompetitive behavior in the field of Internet financial platforms should be manifested in such aspects as the construction of a mechanism for antimonopoly supervision of Internet financial platforms; improvement of the mechanism for the examination of regulatory measures in the field of Internet finance; creation and improvement of the mechanism of public supervision.