Bai Qingyun, Vice Minister of China's State Administration for Market Regulation (SAMR), emphasized at a press conference of the State Council Information Office that the SAMR will continue to strengthen supervision over online transactions, particularly live commerce, and will investigate and handle various illegal and non-compliant activities in accordance with the law to better safeguard consumers' legitimate rights and interests.In recent years, in response to new challenges arising from the rapid development of online transactions, especially live commerce, the SAMR has continuously enhanced the construction of institutional mechanisms, and strengthened normalized supervision of the platform economy, Bai noted. Related News UBS: MEITUAN (03690.HK)'s Competitive Edge Expected to Remain Unchanged; Industry Competition Eases vs Past Two YearsOn the regulatory front, the authority has established an information monitoring system for live commerce, and deployed cross-monitoring of livestreaming activities. On the enforcement front, the SAMR has investigated and handled cases involving false advertising by leading anchors in accordance with the law, and has published five batches comprising a total of 35 typical cases in the live commerce segment. Recently, the SAMR released penalty details related to a series of cases involving 'ghost food delivery' on e-commerce platforms, further sending a strong signal of enhanced regulation over online transactions and safeguarding food safety for the public.Related News Citi: China AI Model Tech Gap Narrowing; Maintains Buy on Alibaba (09988.HK) and Tencent (00700.HK)
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