The State Administration for Market Regulation has given the green light to the establishment of the National Technical Committee on Platform Economy Governance Standardization. This initiative is designed to enforce laws and regulations while tackling pressing issues within platform economy governance, such as excessive competition ('involutionary' competition) and irregularities in live e-commerce. The committee will foster collaboration among various stakeholders, expedite the development of standards, steer industry self-regulation and oversight, and ultimately propel the healthy growth of the platform economy.