China Cracks Down on Vulgar Content, Alibaba's Quark and NetEase's Livestream Platform Face Penalties
Portfolio Pulse from Anusuya Lahiri
China's cyberspace regulator has penalized Alibaba's Quark platform and NetEase's livestream platform Netease CC for hosting and promoting vulgar content. Alibaba was fined 0.5 million yuan ($68,342.42), while Netease CC was instructed to suspend some types of dance content for seven days. This comes after Alibaba was penalized a record 18 billion yuan in 2021 for antitrust violations and a 7.12 billion yuan ($984 million) penalty was imposed on Ant Group in 2023.
October 30, 2023 | 5:11 pm
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NEGATIVE IMPACT
Alibaba's Quark platform was fined for hosting and promoting vulgar content, which could negatively impact the company's reputation and potentially its stock price.
The fine imposed on Alibaba's Quark platform for hosting and promoting vulgar content could negatively impact the company's reputation. This, coupled with the previous penalties for antitrust violations, could lead to a decrease in investor confidence and potentially a drop in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NetEase's livestream platform Netease CC was instructed to suspend some types of dance content for seven days due to vulgar content, which could impact the platform's user engagement and potentially the company's stock price.
The suspension of some types of content on NetEase's Netease CC platform could lead to a decrease in user engagement, which could potentially impact the company's revenues and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70