Alibaba And Other Chinese Stocks Face Regulatory Summon As Crackdown Continues

A consumer protection organization in China's Zhejiang Province summoned five online platforms over live streaming irregularities during the Singles' Day shopping festival, Reuters reports.

The platforms include $Alibaba(BABA.US)$ Taobao, $PDD Holdings(PDD.US)$ and $JD.com(JD.US)$

The organization also summoned short video-sharing and live streaming platforms Kuaishou and ByteDance's Douyin, the Chinese version of TikTok.

The organization alleged irregularities with nearly 30% of live streamers during Singles' Day, while almost 40% of the products sold during the live streams failed to meet national standards.

Additionally, the Cyberspace Administration of China (CAC) informed via video conferencing that it would launch a two-month special operation to target deceptive online behaviors, from boosting engagement figures to paying for fake fans and reviews.

"The conference noted that at present, fabricating online traffic, malicious public relations and comments-for-cash ... harm the legitimate rights and interests of netizens," said the statement, adding that this was the "final battle" in the CAC's drive "clean up" the internet.