Livestream apps are banned from providing minors with facilities for online transfers or virtual gift-purchase services, under the new rules, according to a joint notice published by several government agencies including the National Radio and TV Administration and Cyberspace Administration of China. — Reuters
Chinese regulators have further tightened their grip on the Internet industry, banning younger users from sending virtual gifts on livestream platforms, which could affect companies including ByteDance Ltd and Kuaishou Technology.
The announcement came after the central government hinted this week that it would wrap up a year-long crackdown on China’s Internet industry, which is the world’s largest ecommerce market and has created technology giants such as Alibaba Group Holding Ltd and Tencent Holdings.
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