BEIJING, China: China’s State Administration for Market Regulation said it had held regulatory talks with seven platform companies, urging them to strengthen legal compliance and further standardise promotional and marketing practices, reported Xinhua.
The talks, held on Friday, involved companies including Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan and Taobao Flash Sale.
The regulator required these platform companies to strictly abide by laws and regulations, including the anti-unfair competition law, the pricing law, the law on protecting consumers’ rights and interests, and the e-commerce law, urging them to proactively fulfil their responsibilities.
It also urged the companies to curb all forms of disorderly competition, work together to maintain a fair and orderly market environment, and promote innovation and the sound development of the platform economy. – BERNAMA-XINHUA
