Fine for firm with celebrity shareholder
A company in Chongming District, with 49 percent of its shares owned by celebrity livestreamer Li Jiaqi, has been fined 10,000 yuan (US$1,524) for fake advertising.
Market regulators received a tip-off saying that Ficcecode shampoo bought online from Shanghai Zhuangjia E-Commerce Co Ltd did not have an anti-alopecia function as claimed, the Chongming District Administration for Market Regulation said.
The company failed to provide relevant proof to support the claim, violating China's advertisement law, the administration said.
