Online transaction regulation continues to strengthen; the State Administration for Market Regulation: Significant progress has been made in platform ecosystem governance

The State Administration for Market Regulation stated that by 2025, it will adhere to a balanced approach of regulation and development, emphasize problem-oriented strategies, combine both immediate and root-cause solutions, and implement a series of pragmatic and effective “combination punches.” Significant progress has been made in platform ecosystem governance, and the online consumption environment continues to improve. With a tough stance, efforts are underway to purify the “big environment” of online consumption; systems and regulations are being established to clearly define the “red lines” of platform economy; digital empowerment is being used to create a smart regulatory “command center”; service optimization is being pursued to stimulate “new vitality” in the online market. The online market is an important channel for promoting consumption, stabilizing growth, safeguarding employment, and benefiting people’s livelihoods. Market regulation authorities will continue to uphold the people-centered development philosophy, focus on new forms and issues in online consumption, deepen regulatory innovation and legal safeguards, continuously improve the modernization level of online transaction governance systems and capabilities, and create a fairer and more vibrant online market environment so that every consumer can enjoy a safe and happy life. (State Administration for Market Regulation)