
China Pulls the Brakes on the Spring Festival âRed Envelopeâ Arms Race
Chinaâs market regulator summoned seven major internet platforms and released new antiâmonopoly compliance guidelines after a wave of large Spring Festival cashâgiveaway campaigns. Regulators warned against belowâcost subsidies, exclusive dealing and algorithmic collusion, signalling tighter scrutiny of promotional tactics and AIâdriven user acquisition.


















