China's top regulator summoned tech giants like Alibaba, ByteDance, Baidu, Tencent, JD.com, Meituan and Taobao to end 'involutionary' competition. Companies are spending billions on Lunar New Year promotions for AI services. The move aims to prevent excessive user acquisition battles.
Key Points
- 1.Summoned firms: Alibaba, Douyin, Baidu, Tencent, others
- 2.Focus on curbing promotional 'involution' in AI apps
Impact Analysis
Could reduce aggressive spending and stabilize China's AI market competition. May shift focus from giveaways to sustainable growth.