BEIJING, Aug 30 — China’s State Administration of Market Regulation (SAMR) said today it would further regulate the sharing economy sector.

SAMR said on its website that price hikes in the system built around the sharing of resources were effectively contained due to its oversight.

The regulator also said it is investigating food delivery giant Meituan’s acquisition of bike sharing company Mobike in 2018.

Separately, Meituan today warned in a filing that it may be required to pay "a significant amount” of antitrust fines and posted a third consecutive quarterly loss as it continued to invest in expanding its various businesses. — Reuters