Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Retail/  China regulator to launch campaign to clean up e-commerce, online ads
BackBack

China regulator to launch campaign to clean up e-commerce, online ads

The regulator was quoted as saying it would step up its oversight and give out harsher punishments for those found in violation of regulations

A file photo of Baidu’s headquarters in Beijing, China. Chinese search giant Baidu is being investigated by the country’s internet regulator over the death of a university student. Photo: BloombergPremium
A file photo of Baidu’s headquarters in Beijing, China. Chinese search giant Baidu is being investigated by the country’s internet regulator over the death of a university student. Photo: Bloomberg

Beijing: Chinese authorities will launch a campaign to clean up e-commerce—targeting trademark violations, counterfeit and poor quality products and the faking of transactions to boost a merchant’s online rankings, the official People’s Daily said.

It did not name any specific companies but the move has the potential to affect internet firms such as Alibaba Group Holding Ltd, JD.com Inc and Baidu Inc.

The campaign by the State Administration for Industry and Commerce (SAIC) will run from May to November, the paper said.

The regulator was quoted as saying it would step up its oversight and give out harsher punishments for those found in violation of regulations.

It also called out false and illegal advertising online, according to the People’s Daily, a subject which has caused controversy this week.

Chinese search giant Baidu is being investigated by the country’s internet regulator over the death of a university student who used the Chinese search engine to look for treatment for his cancer.

Before dying, Wei Zexi accused Baidu online of promoting false medical information, as well as the hospital for misleading advertising in claiming a high success rate for its treatment.

A Baidu spokeswoman declined to comment on Thursday about the move by SAIC. Alibaba did not immediately respond to a request for comment.

A JD.com spokesman said: “Our business model targets the scourge of counterfeits and we support efforts to protect consumers, wherever they may shop online."

Chinese authorities regularly launch such campaigns, and this is not the first to target e-commerce, though their effectiveness is not always obvious.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 05 May 2016, 07:05 PM IST
Next Story footLogo
Recommended For You
Retail Stocks
₹4,4192.5%
₹2.040.49%
₹0.82-3.66%
₹3,873.42.28%
₹2,103.61.41%
Switch to the Mint app for fast and personalized news - Get App