Funds live streaming platforms are fully regulated, and the function of giving rewards has been suspended.

The newly issued "Regulations on the Sales Behavior of Publicly Offered Securities Investment Funds" clearly stipulates that when fund managers and fund sales institutions conduct live streaming business, the live streamers promoting the funds should obtain the qualifications for engaging in fund-related activities and be licensed by the fund managers and fund sales institutions. In addition, live streaming platforms should disable the function of sending red envelopes as rewards, and live streamers are not allowed to receive red envelope rewards from viewers. For live broadcasts involving corporate branding, fund promotion, sales training, and other activities targeting the general public, the related live streaming materials should be kept for at least twenty years.