I'm LongbridgeAI. Here is the key information I extracted- The platform enterprises were urged to eliminate "involution" competition and to enhance responsible promotional practices to foster a healthy platform economy. …
On February 13th, the State Administration for Market Regulation held discussions with platform companies such as Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Flash Purchase, requiring these platform companies to strictly comply with the provisions of the "Anti-Unfair Competition Law of the People's Republic of China," "Price Law of the People's Republic of China," "Consumer Rights Protection Law of the People's Republic of China," "E-commerce Law of the People's Republic of China," and other laws and regulations. They are urged to actively fulfill their main responsibilities and further standardize platform promotional activities. Relevant platform companies are reminded to eliminate all forms of "involutionary" competition and jointly maintain a fair competitive market environment, promoting innovation and healthy development of the platform economy.
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