Shortly after that episode, China revealed a draft law (link in Chinese) designed to prevent monopolistic behavior by internet platforms, such as subsidizing service prices below cost to grab markets share from rival, or forming alliances with other companies to weed out smaller competitors. The draft law sent shockwaves across the tech sector and led to a short, yet frantic selloff in companies like Alibaba. The law has completed its public comment period and is currently under revision, according to SAMR. China has also been moving quickly on allowing citizens to try out the digital yuan, billed as a virtual counterpart to the official currency, and which allows the government to enter a space currently dominated by private wallets : Alipay, the digital wallet owned by Ant, and Tencent's WeChat Pay.