Live-streamers promote products online at the 2nd China-Central and Eastern European Countries (CEEC) Expo in Ningbo, Zhejiang province, on June 9, 2021. Live-streaming e-commerce has become an increasingly popular way to shop during the pandemic, but the sale of financial services has caught the attention of regulators. Photo: Xinhua
Live-streamers promote products online at the 2nd China-Central and Eastern European Countries (CEEC) Expo in Ningbo, Zhejiang province, on June 9, 2021. Live-streaming e-commerce has become an increasingly popular way to shop during the pandemic, but the sale of financial services has caught the attention of regulators. Photo: Xinhua
Alibaba

China steps up crackdown on financial products promoted on social media, requires industry licence

  • A draft regulation in China would bar unlicensed sales of banking, insurance and securities services through live-streaming and social media
  • The booming live-streaming e-commerce market has led to influencers selling all kinds of products, including highly regulated financial services like loans

Topic |   Alibaba
Live-streamers promote products online at the 2nd China-Central and Eastern European Countries (CEEC) Expo in Ningbo, Zhejiang province, on June 9, 2021. Live-streaming e-commerce has become an increasingly popular way to shop during the pandemic, but the sale of financial services has caught the attention of regulators. Photo: Xinhua
Live-streamers promote products online at the 2nd China-Central and Eastern European Countries (CEEC) Expo in Ningbo, Zhejiang province, on June 9, 2021. Live-streaming e-commerce has become an increasingly popular way to shop during the pandemic, but the sale of financial services has caught the attention of regulators. Photo: Xinhua
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