Today: 7 February 2025
16 November 2021
2 mins read

STOCK EXCHANGE: Chinese Crackdown on Influencers

The government has come down hard on the socio-cultural practice over the years with the crackdown gathering momentum against individuals who in increasing numbers command societal reverence …writes Mukesh Sharma

 A sustained clampdown on livestreaming by China recently stretched to influencers with authorities slapping a ban on recommending stocks or brokerages as the Chinese capital opened its first bourse on Monday.

According to state media, Beijing gets its first stock exchange with the opening bell going off Monday morning in what is seen as the world’s second largest economy trying to rise above Western clamour given to taming the dragon.
Livestreaming, which has a history of spawning celebrities out of influencers whose social dazzle under the ring light outshines the glare of authorities, has lately been under government scanner in the most populous nation.

The government has come down hard on the socio-cultural practice over the years with the crackdown gathering momentum against individuals who in increasing numbers command societal reverence in the land of philosophers like Confucius and Lai Zi.

Some influencers achieve cult-like status on the back of their aura-filled image lapped up by youngsters.

ALSO READ: US, China Rivalry Casts Shadows Over Asia

“Livestreaming for me is a good way of buying things. The model can put on clothes I want to purchase and help me choose – doing away with the handicap of not being able to try them on in person on the e-commerce platform,” said Cheng, not willing to reveal her first name.

The 34-year-old mom said her mother loves livestreaming platforms like Tik Tok. “They provide another source of entertainment for lots of Chinese, especially those from rural areas,” she added.

China in September banned anyone under 16 from registering to stream online. The State Council, China’s cabinet, said that online services from games to social networks should limit how much time and money children spend online, adding that it will be doing more in terms of classifying and reviewing the content in games, as well as protecting children’s privacy and personal information.

Livestreaming offers a chance for people living in remote and isolated places to sell local specialties and tell their stories, said Cheng, who every day spends two hours commuting to her office in Beijing.

The clampdown on livestreaming has come as part of the government’s attempt to limit screen time among children. Quirks often define the country of about 1.5 billion when it comes to digital life and the way citizens take to it.

For another Beijinger, livestreaming and the ecosystem around it is a waste of time for the young. “Men tend to become effeminate by getting involved in such things,” says the senior professional not willing to be named.

Welcome to the neoliberal world where capitalism rules and people can be fooled into such things, said the economics major.

ALSO READ: China home prices take a nosedive

Previous Story

ADSD’21: Gargash highlights UAE achievements, future diplomacy

Next Story

IAEA chief to visit Iran

Latest from -Top News

‘Ozoum’ shines light on social change 

A groundbreaking Saudi television series is offering an unprecedented glimpse into the Kingdom’s social transformation, captivating domestic audiences and challenging long-standing perceptions, writes Pedro Carvalho  A groundbreaking television series is offering unprecedented

KCF Festival Unites Karnataka Talent in UAE 

Enthusiastic participants displayed Karnataka’s cultural legacy through various artistic performances, making the event a grand celebration of talent.   The 6th edition of the KCF UAE National Level Talent Festival, Prathibhotsava 25, was

SME growth in focus at UAE-South Africa talks 

Bin Salem highlighted that SMEs constitute over 75-80 percent of total enterprises globally…reports Asian Lite News   Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry

UAE unveils Green IP roadmap to boost innovation 

This three-month initiative seeks to enhance the country’s IP competitiveness while supporting its transition to a circular economy. ..reports Asian Lite News The UAE Ministry of Economy has introduced a new “Green Intellectual
Go toTop

Don't Miss

Chinese hackers breach Secy Raimondo’s emails

Multiple officials said the attack was aimed at individual email

CCP undermining women’s basic rights

CCP is finding it difficult to ascertain ‘how much liberty