Core Viewpoint - The State Administration for Market Regulation has released a draft regulation aimed at strengthening the supervision of live e-commerce, protecting consumer and operator rights, and promoting healthy industry development [1][4]. Group 1: Regulatory Framework - The draft regulation seeks to clarify the legal responsibilities and obligations of various stakeholders in the live e-commerce ecosystem, including platform operators, live room operators, marketing personnel, and service agencies [1][3]. - It emphasizes the need for platforms to implement compliance management and to establish a blacklist system to address illegal activities [2][3]. Group 2: Industry Challenges - The complexity of the live e-commerce sector, with multiple participants and extended transaction chains, poses new regulatory challenges, necessitating a robust framework to manage risks [3]. - The regulation aims to enhance the responsibilities of live room operators and marketing personnel, ensuring accurate representation of products and services to prevent misleading advertising [3]. Group 3: Stakeholder Engagement - The formulation of the regulation involved extensive consultations through written research, field studies, and expert discussions to incorporate diverse opinions and suggestions [4]. - The next steps include refining the regulation based on public feedback before its implementation to foster the healthy development of the live e-commerce industry [4].

Core Viewpoint - The rapid development of live e-commerce in China has led to significant contributions to consumption and economic growth, but it is also plagued by issues such as false advertising and poor consumer trust, prompting the need for regulatory measures [1][2]. Group 1: Industry Overview - Live e-commerce retail sales in China reached 4.3 trillion yuan from January to November 2024, contributing 80% of the e-commerce sector's growth [1]. - Complaints related to live commerce reached 402,000 in 2024, marking a 19.3% year-on-year increase, with social media platforms seeing a threefold increase in complaints [1]. Group 2: Regulatory Measures - The newly drafted "Live E-commerce Supervision Management Measures" aims to address long-standing issues in the industry, including false advertising and unclear responsibilities [2]. - The measures establish a systematic responsibility framework for platforms, hosts, and merchants, requiring platforms to implement dynamic verification mechanisms and a tiered management system for high-risk live streams [2][3]. Group 3: Enforcement and Compliance - The regulations propose a blacklist system for violators, allowing for cross-platform restrictions and public disclosure of serious violations on national credit information systems [3]. - The implementation of these measures is expected to enhance regulatory effectiveness and promote a more sustainable and orderly development of the live e-commerce industry [3].

Core Viewpoint - The National Market Supervision Administration has drafted the "Live E-commerce Supervision Management Measures (Draft for Comments)" to enhance supervision and management of live e-commerce, aiming to protect consumer and operator rights while promoting healthy industry development [1][3]. Group 1: Key Responsibilities and Obligations - The draft clarifies the responsibilities and obligations of live e-commerce platform operators, live room operators, marketing personnel, and service institutions [1][2]. - It emphasizes the need for live e-commerce platforms to establish multi-dimensional protection mechanisms for account management, transactions, product quality, and consumer rights [2]. Group 2: Regulatory Framework and Challenges - The draft aims to create a comprehensive regulatory framework that addresses the long-standing issues of unclear responsibilities and broken regulatory chains in the live e-commerce industry [2]. - It seeks to balance the interests of consumers, platforms, and MCN institutions, highlighting the complexity of regulation in this new consumption model [2]. Group 3: Future Developments - The National Market Supervision Administration plans to refine the draft based on public feedback and expedite its implementation to establish a regularized supervision system for live e-commerce [3]. - The implementation of the draft is expected to transition the industry from "wild growth" to a more regulated and quality-driven approach [3].

Core Viewpoint - The introduction of the "Live E-commerce Supervision Management Measures (Draft for Comments)" marks a shift in regulatory focus from post-event accountability to preemptive measures, aiming to reshape the industry ecosystem [1][4]. Group 1: Regulatory Framework - The draft establishes differentiated obligations for various participants in the live e-commerce industry, including platforms, streamers, and service providers, to create a collaborative governance structure [1][2]. - Platforms are required to implement agreement management with streamers and service agencies, clearly defining rights and responsibilities, and will bear joint liability for consumer rights violations due to inadequate review [1][2]. - A product information review system must be established by platforms, making them responsible for the authenticity of promotional content [1][2]. Group 2: Compliance and Accountability - The draft mandates that live marketing personnel and service agencies must provide truthful, accurate, and comprehensive information about products or services, prohibiting misleading or false claims [2][3]. - Specific rules are set for live marketing personnel, including the prohibition of fabricating or disseminating false information that could harm competitors' reputations [2][3]. - The draft also addresses the issue of false advertising, citing cases where streamers misrepresented product quality, leading to significant penalties, such as a fine of 1.65 million yuan for false claims about sweet potato noodles [2][3]. Group 3: Industry Impact - The new regulations are expected to increase compliance costs for platforms, merchants, and streamers, potentially accelerating industry consolidation and restructuring [4]. - The inclusion of digital human streamers under regulatory oversight aims to address challenges posed by technological advancements, ensuring that virtual hosts are not a regulatory blind spot [4]. - The anticipated outcome is a transition towards a more sustainable development model for the live e-commerce industry, fostering consumer trust and orderly market conditions [4].

Core Viewpoint - The rapid development of the live e-commerce industry has positively impacted consumption and employment, but issues such as false marketing and counterfeit products have emerged, prompting the release of a regulatory draft aimed at enhancing supervision and promoting healthy industry growth [1][3]. Group 1: Industry Growth and Challenges - The live e-commerce sector has seen explosive growth, with the number of enterprises increasing from 3,545 in 2018 to 76,000 in 2024, representing a year-on-year growth of 216.66% [3]. - The transaction scale of live e-commerce is projected to reach 53,256 billion yuan in 2024 [3]. - Despite growth, there are concerns about inadequate responsibility among industry participants, leading to quality issues and consumer rights violations [3]. Group 2: Market Penetration and Competition - The penetration rate of live e-commerce is expected to reach 34.3% in 2024, with a growth rate of 7.52%, indicating a decline in growth momentum [4]. - The industry is transitioning from a "traffic dividend period" to a "stock competition period," emphasizing a shift from scale expansion to quality enhancement [4]. Group 3: Regulatory Framework - The newly proposed regulatory draft consists of seven chapters and 57 articles, clarifying the legal responsibilities of various participants in the live e-commerce ecosystem [5][6]. - Key responsibilities for platform operators include verifying qualifications, managing information disclosure, and ensuring compliance with laws [6]. - The draft also emphasizes the need for live stream operators and marketing personnel to provide accurate information and avoid misleading promotions [6][7]. Group 4: Impact on Stakeholders - The regulatory draft aims to balance supervision and development, ensuring that it does not impose additional burdens on platform operators while enhancing consumer protection [8][9]. - The draft incorporates feedback from various stakeholders and is designed to align with existing laws, promoting compliance and efficiency in regulatory practices [9].

Core Insights - The live e-commerce market in China has grown 10.5 times over the past five years, reaching a scale of 4.9 trillion yuan in 2024, while complaints have surged by 47.1 times [1][2] - The complexity of the live e-commerce ecosystem includes traditional e-commerce platforms like Alibaba, JD, and Pinduoduo, as well as social platforms like WeChat and Xiaohongshu, and short video platforms like Douyin and Kuaishou [1][3] - The State Administration for Market Regulation (SAMR) has released a draft regulation to clarify the responsibilities of live e-commerce platforms, including identity verification and the establishment of a blacklist system [1][7] Market Overview - The live e-commerce market is seen as a new growth engine, with significant participation from various platforms, including traditional e-commerce and social media [2][3] - Platforms like Douyin and Kuaishou have leveraged their content advantages to support the growth of live e-commerce, with over 200,000 small and medium-sized businesses using live streaming to boost sales [3][4] Regulatory Developments - The SAMR's draft regulation specifies that live e-commerce platforms must verify the credentials of live stream operators and marketers, requiring regular updates every three months [7][8] - The regulation introduces a blacklist system to manage non-compliant operators, preventing them from re-entering the market through account changes [9][10] Platform Responsibilities - Platforms are required to conduct thorough pre-approval processes for live stream operators, including verification of their identity and business licenses [7][8] - The regulation emphasizes the need for platforms to monitor live e-commerce activities actively and implement measures against violations, such as warnings and traffic restrictions [7][10] Challenges and Concerns - There are concerns about the operational burden on platforms due to the new regulatory requirements, although officials assert that these measures align with industry characteristics [8][10] - The complexity of enforcing the blacklist system and the need for clear operational guidelines pose significant challenges for effective implementation [10] Influencer and Merchant Guidelines - The regulation mandates that live streamers must provide accurate and comprehensive information about products, avoiding misleading or deceptive practices [11][15] - Specific requirements for displaying product pricing and promotional information are outlined to enhance transparency for consumers [14][15]

Core Viewpoint - The State Administration for Market Regulation, in collaboration with the National Internet Information Office, has drafted the "Live E-commerce Supervision Management Measures (Draft for Comments)" to enhance regulation in the live e-commerce sector and protect the legitimate rights and interests of consumers and operators [1][2]. Group 1: Regulatory Framework - The draft clearly defines the legal responsibilities and obligations of various participants in the live e-commerce industry, including platform operators, live room operators, service agencies for live marketing personnel, and the marketing personnel themselves [4][5]. - It emphasizes the need for live e-commerce platforms to establish comprehensive platform rules, strengthen identity verification and qualification audits for live room operators and marketing personnel, and enhance the handling of illegal activities [6][8]. Group 2: Industry Challenges - The live e-commerce industry has been experiencing rapid growth, but issues such as false marketing and counterfeit products have become increasingly prominent, with inadequate responsibility among relevant parties [2][12]. - There is a noted lack of quality awareness among some merchants and streamers, leading to a focus on short-term profits at the expense of consumer rights [2]. Group 3: Implementation and Compliance - The draft requires live room operators to establish systems for reviewing and publicizing product or service information, ensuring that marketing personnel provide truthful and comprehensive product descriptions [10]. - It also introduces regulatory measures for illegal activities, including exploring traffic regulation for violators and establishing training and blacklist management systems for live marketing personnel [12][14]. Group 4: Balancing Regulation and Development - The draft aims to balance regulatory norms with the promotion of industry development, clarifying the responsibilities of all participants in the live e-commerce sector to foster a collaborative governance approach [13][16]. - The formulation of the draft has taken into account market expectations and industry realities, with extensive consultation to support the healthy development of the live e-commerce sector [16].

Core Viewpoint - The rapid growth of the live e-commerce industry has led to positive impacts on consumption and employment, but it has also resulted in issues such as false marketing and counterfeit products. The introduction of the "Live E-commerce Supervision Management Measures (Draft for Comments)" aims to enhance regulation and promote healthy development in the industry [1][2]. Group 1: Industry Growth and Market Data - The live e-commerce sector has experienced explosive growth, with the number of enterprises increasing from 3,545 in 2018 to 76,000 in 2024, representing a year-on-year growth of 216.66% [1]. - The transaction scale of live e-commerce is projected to reach 53,256 billion yuan in 2024 [1]. Group 2: Regulatory Measures and Responsibilities - The new regulations clarify the legal responsibilities and obligations of live e-commerce platform operators, live room operators, service agencies, and marketing personnel, aiming to strengthen regular supervision [2][3]. - Platform operators are required to establish comprehensive rules, enhance identity verification and qualification audits, and actively assist consumers in protecting their rights [2]. - The regulations emphasize the need for live room operators to implement systems for reviewing product information and to avoid misleading commercial promotions [3].

原标题：市场监管总局将出台《办法》加强直播电商监督管理 科技日报北京6月10日电 （记者付丽丽）10日，记者从市场监管总局获悉，为加强直播电商监督管 理，该局在充分调研和广泛征求意见的基础上，会同国家网信办研究起草《直播电商监督管理办法（征 求意见稿）》（以下简称《办法》），正式向社会公开征求意见。征求意见截止日期为7月10日。 近年来，直播电商行业发展迅速，在促进消费、扩大就业同时，虚假营销、假冒伪劣等乱象逐渐显 现。为此，《办法》细化了直播电商平台经营者的责任和义务。要求平台经营者建立健全平台协议规 则，加强对直播间运营者、直播营销人员服务机构、直播营销人员的身份认证和资质审核，强化对违法 违规行为的处置，依法依规报送数据信息，积极协助消费者维权，进一步压实平台企业的主体责任。 《办法》明确了直播间运营者、直播营销人员服务机构、直播营销人员的责任和义务。要求直播间 运营者不得作虚假或者引人误解的商业宣传。要求直播营销人员真实、准确、全面地介绍商品或者服 务，不得欺骗、误导消费者。 《办法》强化了监督管理手段。《办法》规定，市场监督管理、网信部门对经调查核实违反市场监 督管理、网信领域法律、法规、规章的直播 ...

Group 1: Policy Initiatives - The State Council proposed 10 policy measures across 4 areas to improve and guarantee people's livelihoods[7] - Emphasis on enhancing social security fairness and expanding coverage for low-income groups[8] - Focus on equal access to basic public services regardless of urban or rural status[8] Group 2: Market Performance - The Shanghai Composite Index fell by 0.44%, while the North Exchange 50 Index decreased by 1.01%[16] - As of June 10, 2025, the North Exchange A-share component stocks totaled 267, with an average market capitalization of 3.076 billion[16] - Trading volume for the North Exchange reached 25.371 billion, down 5.23% from the previous trading day[16] Group 3: Industry News - The China Steel Industry Association called for resisting "involution" competition and prioritizing industry interests over individual company benefits[12] - Recommendations for the automotive industry to adhere to fair competition principles and enhance technological advancements[13] - The China Electric Power Construction Enterprise Association proposed four strategies for integrated development of power sources and green electricity projects[14]