Core Viewpoint - The new regulations introduced by the National Market Supervision Administration and the National Internet Information Office aim to create a fair, transparent, and trustworthy online trading ecosystem by addressing long-standing issues faced by both merchants and consumers, such as unfair pricing practices and unilateral changes to service agreements [2]. Group 1: Enhancing Platform Rule Transparency - The new regulations require platforms to prominently display rules on their homepage, ensuring easy access for consumers and merchants, and mandate a minimum notice period of seven days for rule changes, with 15 days for significant modifications [4]. - Platforms must publicly solicit feedback from users and merchants before modifying rules, ensuring that reasonable suggestions are considered and documented for at least three years [4]. - A mechanism for regular communication and consultation regarding significant rule changes will be established, promoting collaborative governance rather than unilateral decision-making [4]. Group 2: Addressing Unilateral Changes by Platforms - The regulations explicitly prohibit platforms from unilaterally modifying membership agreements to impose additional fees or reduce member benefits during the service period, addressing issues highlighted by cases like iQIYI's unilateral changes to its VIP service [6]. - Consumers must be clearly informed of any changes to membership rights before purchasing services, creating a legal framework that reinforces consumer protection [6]. Group 3: Prohibiting Price Discrimination - The regulations specifically ban "big data killing familiarity," which refers to the practice of charging different prices to consumers based on their purchasing history, thus safeguarding consumers' rights to fair transactions [7]. - Platforms are required to provide evidence of the legality and fairness of their pricing mechanisms when consumers raise concerns about discriminatory pricing practices [8]. Group 4: Curbing "Involution" Competition - The regulations address the issue of "involution" in the platform economy, where platforms engage in destructive price competition, by prohibiting forced participation in unnecessary services and ensuring fair competition practices [10]. - Clear guidelines are established to protect merchants' autonomy, including prohibitions against coercive pricing strategies and unreasonable fees [10]. Group 5: Clarifying Notification Obligations and Appeal Rights - The regulations introduce a system for executing platform rules that requires platforms to provide clear reasons and legal bases for any punitive actions taken against merchants or consumers [12]. - Platforms must establish accessible appeal channels and handle appeals in a timely and fair manner, moving away from opaque management practices [12].

Core Viewpoint - The implementation of the "Regulations on the Supervision and Management of Online Trading Platforms" aims to address long-standing issues faced by merchants and consumers, establishing a fair, transparent, and trustworthy online trading ecosystem starting February 1, 2026 [1] Group 1: Transparency in Platform Rules - The new regulations will enhance the transparency of rule-making and modification processes, requiring platforms to prominently display rules on their homepage and ensure easy access for consumers and merchants [3] - Platforms must publicly solicit opinions from users and merchants before modifying rules, ensuring that reasonable suggestions are considered and documented for at least three years [3] - A communication and consultation mechanism will be established for significant rule changes, promoting collaborative governance rather than unilateral decision-making [3] Group 2: Protection of Membership Rights - The regulations specifically prohibit platforms from unilaterally changing membership rules to impose additional fees or reduce member benefits during the service period [5] - This legal framework aims to prevent practices like those seen in the iQIYI case, where members experienced a significant reduction in expected benefits due to sudden changes in service terms [4][5] Group 3: Fair Pricing Practices - The regulations address the issue of "big data price discrimination," mandating that platforms cannot set different prices for the same product or service under similar conditions without consumer knowledge [7] - Platforms are required to provide evidence of their pricing mechanisms when consumers claim price discrimination, thereby safeguarding consumer rights [7] Group 4: Regulation of Competitive Practices - The regulations aim to curb "involutionary" competition by prohibiting platforms from forcing merchants into unnecessary services or promotional activities, thus protecting merchants' operational autonomy [9] - Specific illegal practices such as "choose one from two" and unreasonable fees are clearly defined, establishing a comprehensive protection system for all stakeholders involved [9] Group 5: Execution of Rules and Appeals - The new regulations introduce a system for executing platform rules, requiring platforms to provide clear reasons and legal bases when taking negative actions against merchants or consumers [10] - A streamlined appeals process will be established, ensuring that merchants and consumers can challenge decisions effectively and receive fair treatment [10]

Core Points - The second "Peach You Like · iQIYI 717 Membership Festival" has officially launched on July 8, featuring a theme of "Peach You Like" and offering a variety of benefits in entertainment and lifestyle consumption [1] - iQIYI has introduced an unprecedented "Buy One Get Seven" membership package, allowing users to subscribe to annual plans at discounted prices while receiving additional memberships from seven other platforms [3] - The festival continues the theme from the first event, aiming to reward members with a series of benefits, including collaborations with various lifestyle service brands to distribute over one million brand benefits [4] Membership Subscription - From July 11 to July 17, users can subscribe to iQIYI's Golden VIP and Platinum VIP annual cards at promotional prices of 138 yuan and 249 yuan respectively, with the added benefit of receiving memberships from platforms like NetEase Yanxuan and Cool Dog Music [3] - The festival features attractive lottery events for all iQIYI VIP members, with prizes including tickets to the "iQIYI Scream Night" and exclusive limited edition collectibles [3] Brand Collaborations - iQIYI has partnered with brands such as JD.com, Meituan, and QQ Music to provide extensive brand benefits across shopping, music, and travel, enhancing the overall value of the membership festival [4] - An ongoing "Most Anticipated IP" voting activity adds an interactive element to the membership day, with plans for an "IP Interactive Carnival" to be launched later [4]