China announces probe into e-commerce firm

China's top market regulator said on Friday that it has opened an investigation into Chengdu Kuaigou Technology Co, the e-commerce subsidiary of Kuaishou, for suspected violations of the country's e-commerce law. Beijing is currently stepping up its regulation of the fast-growing livestreaming industry.

The State Administration for Market Regulation said the decision followed a preliminary review of the company and is part of efforts to promote the healthy development of the platform economy and safeguard consumer rights.