One of China's top livestreamers was fined RM884.52mil for tax evasion, as the government cracks down on online influencers and the entertainment industry.
One of China's top livestreamers, active on Weibo, was fined RM884.52mil for tax evasion, as the government cracks down on online influencers. — REUTERS/Florence Lo/Illustration
Shares in China’s largest livestreaming operators and services plunged in New York, with Bilibili Inc. diving 11.6%, Alibaba Group Holding Ltd. falling 5.8% and Joyy Inc. sliding 4.7%. Government departments need to better coordinate and boost efforts to regulate the livestreaming industry and crack down on tax evasion, the official Xinhua News Agency said in a report Tuesday.
The high-profile case may spook merchants and brands who rely on the format to drive sales, not just at Alibaba but across a number of its rivals’ platforms. Viya had total sales of more than 31bil yuan in 2020, the most among her peers, the tech media outlet 36kr.com reported earlier.
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