The State Administration for Market Regulation, the country's top market regulator, said on Friday that it plans to implement stringent oversight of online platforms and livestream e-commerce, as part of a broader effort to ensure fair competition and protect smaller businesses.

Speaking at a press briefing of the State Council on Friday, the nation's Cabinet, Shu Wei, deputy head of the SAMR, said more efforts will be made to make platform rules more transparent, lower operational costs for merchants and clean up the e-commerce ecosystem, to ensure a healthier market environment.

"We will improve regulatory frameworks and address the abuse of platform rules that disrupt fair competition and harm the rights of merchants and consumers," Shu said.

He emphasized that SAMR will also crack down on deceptive marketing in the livestream e-commerce sector.

The move reflects Beijing's broader push to drive the healthy development of the country's platform economy to foster innovation and prevent monopolistic behaviors.

Shu said the goal of such efforts is to create an environment where "towering trees" of major platform companies can coexist with "lush green grass" of smaller enterprises. "We want to see a vibrant ecosystem that promotes growth and prosperity across the board," he added.

[email protected]