Two live streamers promote products during a live stream at the Hangzhou Future Sci-Tech City. [Photo/zj.zjol.com.cn]

The Zhejiang Internet Business Association released a draft of standards for live stream e-commerce at the Forum on the Management of the Live Stream E-commerce Industry held in Hangzhou, capital of Zhejiang province, on June 17.

According to a representative of the Zhejiang Internet Business Association, the draft will be unveiled to the public in July.

The draft will propose ways to regulate the services of live stream platforms, live streamers, shops, and Multi-Channel Network (MCN) institutes, which are third-party institutes that specialize in nurturing and recommending anchors for live streaming.

The Covid-19 epidemic boosted the popularity of live stream e-commerce. Statistics show that more than 4 million live streams were given across the country in the first quarter, and the market value of the live stream e-commerce industry in China is expected to surpass 1 trillion yuan ($141 billion) this year.

The Zhejiang Internet Business Association releases a draft of standards for live stream e-commerce at the Forum on the Management of the Livestream E-commerce Industry held in Hangzhou, capital of Zhejiang province, on June 17. [Photo/zj.zjol.com.cn]

As the birthplace of the internet economy, Zhejiang has become a hub for the live stream e-commerce industry.

Here are some of the standards proposed in the draft:

First, live stream platforms must establish and improve standards for promoting services or commodities, strengthen background checks on live streamers, strengthen protections for consumers, and enhance the management of live stream content.

Second, businesses operating on live stream platforms are advised to fulfill their obligations as e-commerce operators, obey legal regulations and regulations laid out by the platforms, ensure that their commodities are of high quality, standardize how they promote their commodities on live stream platforms, and protect the rights of consumers.

Third, anchors are advised to obey legal regulations and regulations laid out by the live stream platforms and to standardize how they behave during live streams.

Fourth, MCN institutes are advised to work closely with live stream platforms and fulfill their duties to supervise live stream content and manage behaviors.