Core Viewpoint - The recent report by CCTV Finance on the chaos in the Hetian jade market has sparked widespread attention, revealing issues of counterfeit products and deceptive marketing practices in the industry [1] Group 1: Market Issues - There are widespread quality issues with products, as some unscrupulous merchants use low-quality jade materials to imitate Hetian jade, selling them at high prices [2] - False advertising is prevalent, with many merchants purchasing fake certification to convince consumers of product quality, and some even claiming miraculous health benefits for their jade products [2] - The use of exaggerated scripts by live streamers to attract consumers is common, with instances of staged negotiations between streamers and vendors to create a sense of urgency and authenticity [2] Group 2: Consumer Vulnerability - Consumers often struggle to identify inferior products and are misled by fictitious endorsements from supposed authoritative institutions, leading to a high likelihood of deception [3] - The immersive experience provided by live streaming can lead to impulsive buying, particularly among older consumers who may lack online shopping experience and are more susceptible to false claims [3] Group 3: Regulatory Challenges - Platforms typically conduct regular oversight and may impose strict measures against high return and complaint rates, but many merchants simply rebrand to evade penalties [3] - There are concerns about the potential conflict of interest between merchants and platforms, as some merchants invest heavily in purchasing traffic, which may compromise the effectiveness of platform regulation [3] Group 4: Broader Implications - The issues observed in the Hetian jade market are not isolated, as similar problems exist across various industries and live streaming platforms [4] - The media exposure of these issues calls for a collective effort from multiple regulatory bodies to standardize merchant behavior and address the root causes of such chaos [4]