China's top antitrust regulator has ordered 34 domestic technology companies to immediately change anti-competitive business practices.
The companies were reportedly sent notices Wednesday as part of the county's crackdown on monopolies and unfair business practices.
The State Administration for Market Regulation said it will continue efforts to eliminate abuses of information and market dominance in the sector.
The agency has summoned the leaders of large technology companies to a meeting this week. Executives from Baidu, JD.com, Tencent and ByteDance have been invited.
A four-month investigation of Alibaba's activities resulted in a record $2.8 billion fine against the e-commerce company for its alleged abuse of its market dominance.
The antitrust watchdog warned other tech companies to "heed Alibaba's example" and to immediately change practices such as forced exclusivity.
Alibaba has committed to following the regulator's recommendations. The company said it would be implementing remedies. Alibaba's share price has gained around 7% since the start of the week.
Shares of the companies invited to the meeting have not fared well, however. Shares of Meituan and Tencent Holdings all extended losses after the administrator issued its standing orders for reform. As of Tuesday's close, Tencent gave up early gains and finished slightly down while Meituan ended the day with a 3% slide.
Analysts said the investigation into Alibaba was the start of its campaign to curb the power of China's largest technology companies. The administrator is expected to inspect the operations of the 34 companies.
The agency said it expected all of the companies to commit to following the country's rules and laws as they are written.
"This is positive because the administrator is giving the platforms one month to review their practices, rather than dish out fines and penalties without warning," analysts at Bloomberg Intelligence said.
