According to Qichacha, Beijing Kuaishou Technology Co., Ltd., and Beijing Microlive Vision Technology Co., Ltd., an associated business of Douyin, were fined 200,000 yuan ($31,110) for breaching Chinese marketing laws. The charge dolled out to the business was offered by the Beijing Haidian Administration for Market Regulation.
Both business were fined for releasing a monetary video ad on their platforms, promoting inaccurate orientation such as overconsumption, and having severe worth issues.
Among them, Kuaishou was offered an administrative charge of 200,000 yuan and has actually had 74,202 yuan of prohibited earnings taken; Douyin was fined 200,000 yuan and had 39,436 yuan of prohibited earnings seized.
Short video platforms like Douyin and Kuaishou are ending up being increasingly more popular as their material shows important to online marketers and publishers. Some contents, nevertheless, appear to have problems with showing appropriate worths, promote cash praise and feed a hedonistic competitive psychology, consisting of daydreaming about getting abundant overnight.
At the start of this year, Douyin and Kuaishou stated that they would punish material promoting cash praise and would disable and banaccounts thought of intentionally displaying wealth, maliciously hypothesizing or breaching public order and great customizeds.
This July, JD Finance was fined 400,000 yuan for releasing ads that promoted inaccurate assistance to the general public such as extreme intake.