China launches antitrust probe into Tencent-backed property broker KE | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
July 24, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JULY 24, 2025
China launches antitrust probe into Tencent-backed property broker KE

South Asia

Reuters
25 May, 2021, 03:35 pm
Last modified: 25 May, 2021, 03:38 pm

Related News

  • China's Xi calls for 'proper handling of frictions' at tense summit with EU officials
  • Milestone tragedy: Chinese medical experts conduct video consultation with burn institute doctors
  • India to resume issuing tourist visas to Chinese citizens
  • Chinese hydropower project on Yarlung Zangbo River won't affect downstream flow: Envoy
  • Bangladesh delegation visits China to promote investment opportunities

China launches antitrust probe into Tencent-backed property broker KE

The investigation is the latest into China's big so-called "platform" companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers

Reuters
25 May, 2021, 03:35 pm
Last modified: 25 May, 2021, 03:38 pm
FILE PHOTO: A sign of Tencent is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, Dec. 3, 2017. REUTERS/Aly Song/File Photo
FILE PHOTO: A sign of Tencent is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, Dec. 3, 2017. REUTERS/Aly Song/File Photo

China's market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings, the country's biggest housing broker whose top backer is Tencent Holdings, two people who know of the matter said.

The investigation is the latest into China's big so-called "platform" companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers.

KE Holdings, which operates housing platforms Lianjia and Beike in China, was warned last month by the State Administration for Market Regulation (SAMR), along with dozens of internet companies, against any abuse of market dominance and told to conduct self-inspections.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

SAMR has been formally investigating in recent weeks whether KE Holdings forces real estate developers to list housing information only on its platforms, including Lianjia and Beike, a tactic known as "choose one from two", the people said, declining to be named because the information is not public.

The investigation has not been publicly announced. It is not known when it will be wrapped up or what it could entail for KE Holdings.

KE Holdings declined to comment to Reuters but in a later statement on its Chinese social media accounts Beike denied that "SAMR had opened a case against Beike".

SAMR did not immediately respond to a request for comment.

KE's New York-listed shares fell as much as nearly 10% in pre-market trading on Tuesday, after the Reuters report.

Last month, SAMR hit Alibaba Group with a record $2.8 billion fine after finding that the e-commerce giant had been preventing its merchants from using other online e-commerce platforms since 2015.

Tencent itself is in the firing line, with SAMR preparing to levy a fine of at least $1.5 billion on the gaming and social media behemoth, Reuters reported in April. SAMR also announced an investigation last month into Tencent-backed food delivery giant Meituan.

SAMR has stationed inspectors since late April in 17 companies that operate platforms, including KE Holdings, to enhance the efficiency of antitrust inspections, one of the sources said.

KE Holdings, which also counts SoftBank Group Corp among its major backers, launched Lianjia, formerly known as Beijing Homelink Real Estate Brokerage, 20 years ago.

It grew into one of China's largest bricks-and-mortar property agents and later set up Beike as a separate online housing platform matching buyers and sellers, renters and landlords, as well as providing home finance.

It listed in New York in August, and after sharp gains last year the shares are down 15% so far in 2021. Still, it has a market value of about $62 billion.

On top of the antitrust probe, KE Holdings faces uncertainty following the death last week of its 50-year-old founder and chairman, Zuo Hui, due to an illness. Co-founder Peng Yongdong was appointed chairman this week.

Its biggest revenue sources are from existing home and new home transactions, with market shares of 26% and 35%, respectively, of gross transaction volume in 2020, according to TF Securities, a relatively high proportion in China's fragmented housing market.

KE Holdings posted stellar first quarter financial results last week, with net revenue up 191% on the year, bolstered by China's robust property market that quickly rebounded last year from the coronavirus crisis.

World+Biz / Global Economy

China / Tencent

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Representational image. Photo: Collected
    Bangladesh, US set for crucial virtual meeting tomorrow over tariff issue
  • Milestone tragedy: CID confirms identities of 5 victims using DNA samples
    Milestone tragedy: CID confirms identities of 5 victims using DNA samples
  • BNP Secretary General Mirza Fakhrul Islam Alamgir. File Photo: Collected
    Ex-CJ Khairul responsible for political crises, deserves exemplary punishment: Fakhrul

MOST VIEWED

  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
    Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
  • Fire at Cosmo School in Mirpur on 23 July 2025. Photo: TBS
    Fire breaks out at Cosmo School in Mirpur following generator explosion
  • Representational image. File Photo: Rajib Dhar/TBS
    Debate arises as edu adviser says postponed HSC exams of 22 and 24 July will be held on same day
  • BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
    BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
  • Infographics: TBS
    Stay orders won’t shield defaulters: BB governor 

Related News

  • China's Xi calls for 'proper handling of frictions' at tense summit with EU officials
  • Milestone tragedy: Chinese medical experts conduct video consultation with burn institute doctors
  • India to resume issuing tourist visas to Chinese citizens
  • Chinese hydropower project on Yarlung Zangbo River won't affect downstream flow: Envoy
  • Bangladesh delegation visits China to promote investment opportunities

Features

Photo: Collected

24 July: More than 1400 arrested, 3 missing coordinators found

16h | Panorama
Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

2d | Panorama
Photo: Mehedi Hasan/TBS

Mourning turns into outrage as Milestone students seek truth and justice

1d | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

2d | Panorama

More Videos from TBS

'Brahmanbaria has always been deprived because it fought against fascism'

'Brahmanbaria has always been deprived because it fought against fascism'

34m | TBS Today
All aboard crashed plane feared dead: Tass

All aboard crashed plane feared dead: Tass

1h | TBS News Updates
Remembering Shafin Ahmed

Remembering Shafin Ahmed

1h | Others
Gaza relief workers are being shot at

Gaza relief workers are being shot at

1h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net