Beijing, making good on its threats to emphasize the “shipping economy”, President Xi Jinping has weighed on the need to rein in eunuchs who play a major role in the country’s consumer sector.
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Chinese Liverstreaming came under scrutiny on Tuesday. On Thursday, it was “Deepfake”. And earlier this month, Chinese authorities fined the community group operators who bought the platform.
Beijing, making good on its threats to emphasize the “shipping economy”, President Xi Jinping has weighed on the need to rein in eunuchs who play a major role in the country’s consumer sector.
The intoxication of Chinese digital heavyweight warnings, fines and de-platforming put the Ant Group’s $ 37 billion IPO on hold last year and expanded across the sector, lowering share prices and punishing some operators Motivated to take pre-measures before committing.
“With the rapid development of the digital economy, people’s lives have become inseparable from the Internet platform,” the Chinese state-run Daily wrote on Thursday.
“However, after capturing the market, some platforms have given up their proper social responsibilities and are trying to monopolize the region by becoming ‘slaves’ of capital”.
Chinese Internet giants led by billionaire Jack Ma’s Alibaba, as well as Tencent, ByteDance and a handful of people, built enormous scale and market power under an era of lavish fur treatment, which Alibaba affiliate Ant in November The listing ended dramatically with a halt.
Also read ‘Political link’ stops Jack Ma’s record IPO to China
It was then fined for fines imposed on companies for thwarting previous acquisitions for an anti-trust review, as well as an anti-trust investigation in Alibaba and forcing sellers to sell the product ” There was a “one-to-two” exercise. Only one e-commerce site.
The pace has accelerated.
On Friday, China’s market regulator fined 10 deals on 12 companies, including Baidu Inc., Tencent and Didi Chuxing, for violating anti-monopoly rules.
Also read China market regulator to introduce new rules on online deals
On Monday night, Alibaba’s UC Browser, which boasts more than 400 million monthly active users, was embarrassed on state TV’s annual Consumer Rights Show for advancing advertisements by unqualified medical firms. UC apologized, but the app disappeared from the Chinese Android App Store.
Following Monday’s meeting chaired by Xi, he warned of the risks of “irregular” development of some platforms.
“The platform’s economy is not fully developed and has shortcomings, and we have a major problem with the regulatory system that does not accommodate the issue,” said a report by the government news agency Xinhua.
Also read China Denies $ 1 bn Alibaba Penalty Plan, But Tech Companies Shocked
This week, sources said that Alibaba plans to bring its own Taobao cut-price retail service to rival Tencent’s ubiquitous WeChat messaging app, of which Taobao had blocked access since 2013. The move is under pressure from Alibaba regulator and is facing a major challenge from Tencent-. Supported Pindoduo.
Alibaba did not immediately respond to requests for comment.
Beijing-based tech and e-Li Liongdong said, “The platform economy in China has millions of merchants and large platforms are getting the most out of them. So it makes sense for regulators to lose weight and protect their interests Comes. ” Commerce Analyst.
‘Long batley’
On Thursday, China’s Internet watchdog said it had called on 11 firms, including Alibaba, Tencent and ByteDance, to discuss “DeepFake”, which uses artificial intelligence to create hyper-realistic but fake video or audio where one The person says something or it appears that they did not. .
It called on companies to “conduct security assessments on their own” and to mark new works or services that “have the potential to mobilize society”, a clear reference to the increase in Chinese copyright of the American audio app Clubhouse, which the Chinese was blocked. Censored in early February.
Also read Developing a clubhouse-like app for China among the copycat crowd
Reuters reported last month that Chinese tech giants were anticipating a massive rift.
Liu Jingliang, a member of the committee led by the Ministry of Industry and Information Technology, said the platform companies had become too large, forcing the government to take action.
“It’s a long battle and more action can be expected,” he told Reuters.
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