Chinese regulators have further tightened their grip on the Internet industry, banning younger users from sending virtual gifts on livestream platforms, which could affect companies including ByteDance Ltd and Kuaishou Technology.
The announcement came after the central government hinted this week that it would wrap up a year-long crackdown on China’s Internet industry, which is the world’s largest ecommerce market and has created technology giants such as Alibaba Group Holding Ltd and Tencent Holdings.
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