WeChat Taobao Douyin Alipay etc may be subject to official super supervision

WeChat Taobao Douyin Alipay etc may be subject to official super supervision

WeChat Taobao Douyin Alipay etc may be subject to official super supervision

 

The State Administration for Market Regulation of China issued a draft for comments on the 29th, which pointed out that Internet platforms are planned to be divided into online sales platforms, life service platforms, social entertainment platforms, information and information platforms, financial service platforms, and computer applications. Platforms and other 6 categories are divided into three levels: super platforms, large platforms, and medium and small platforms according to the scale of users. According to the media, according to this standard, WeChat , Taobao, Douyin, Alipay and other apps will be “super-managed.”

 

WeChat Taobao Douyin Alipay etc may be subject to official super supervision
WeChat Taobao Douyin Alipay etc may be subject to official super supervision

According to the WeChat official account of “China Economic Net”, the State Administration for Market Regulation announced on the 29th the “Guidelines for Classification and Classification of Internet Platforms (Draft for Comment)” and “Guidelines for the Implementation of Subject Responsibilities of Internet Platforms (Draft for Comments)”.

It is understood that a super platform refers to a platform with a super large user scale, super wide range of business types, super high economic volume, and super restrictive capabilities at the same time. Ultra-large user scale, that is, the platform’s annual active users in China last year is not less than 500 million; ultra-wide business types, that is, the platform’s core business involves at least two types of platform businesses, which involve online sales, life services, social entertainment, and information Six aspects of information, financial services, and computer applications; ultra-high economic volume, that is, the market value (valuation) of the platform at the end of last year is not less than 1 trillion yuan; ultra-strong restriction ability, that is, the platform has strong restrictions on merchants’ access to consumers (User) capabilities.

Large-scale platforms have annual active users in China no less than 50 million; the market value (valuation) at the end of last year is no less than RMB 100 billion.

According to this standard, WeChat, Taobao, Douyin, Alipay and other apps will be managed in accordance with the super-platform. China Economic Net pointed out that the purpose of grading is to implement precise policies, to protect users’ rights and interests from infringement with more targeted and standardized supervision, and to promote better development of the platform.

China Economic Net stated that, on the one hand, super platforms have to assume super responsibilities and accept “super supervision.” On the other hand, China’s super platforms are often the world’s leading companies in this field. These platforms should give full play to their own advantages, achieve healthy and long-term development in standardized management, and become China’s leader in establishing global advantages in the digital economy era.

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