Young internet users in China have recently been prohibited from sending virtual gifts on Livestream platforms, and their allowed time on these platforms is to be restricted. The newly issued rules come as Chinese regulators ramp up their grip on the internet platforms.

According to several government agencies’ joint notice, Livestream apps cannot supply minors with facilities for online transfer or virtual gift-purchase services under new rules.

Before the newly launched regulation, several young people could send virtual gifts or cash tokens to Livestream performers. Some platforms would later require a commission fee from the contributions.

Beijing also demanded these platforms manage their peak-hour shows, and they would have to forcibly turn off the shows by 10 p.m. local time for underage users.

These newly issued policies would reportedly affect the most prominent live-streaming platforms, including ByteDance Ltd and Kuaishou Technology.
Bloomberg reported that the Beijing move came after the central government implied an ending to the year-long repression of China’s booming industry.

China initially launched its regulatory crackdown on big techs in late 2020.
According to an estimate from Goldman Sachs Group Inc, China’s tech firms have lost as much as $2 trillion in market value over the last year, about 11% of China’s GDP.

The regime canceled Ant Group’s $35 billion initial public offerings (IPO) in 2020, which would have been the world’s largest IPO.

Alibaba was hit with a record $2.8 billion antitrust penalty in September 2021, while Beijing sanctioned the food-delivery behemoth Meituan with a $530 million penalty a month later.

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