THE WHAT? The Chinese government is preparing to usher in a framework purporting to regulate the country’s booming livestreaming industry, according to a report published by Reuters.
THE DETAILS The country’s internet watchdog has published draft regulations which will usher in curbs on the likes of Alibaba and JD.com.
The rules will require livestreamers to provide ID and social security numbers to the platforms they use, as well as crack down on illegal advertising, falsifying page views and promoting pyramid schemes.
THE WHY? With top livestreamers capable of shifting millions of yuan’s worth of products in a single session on the likes of Taobao, the industry has grown rapidly. Regulators are playing catch up after a myriad of consumer complaints.