Fine for firm with celebrity shareholder

Hu Min
Livestreamer holds 49 percent of shares in company in Chongming District fined 10,000 yuan after failing to back up claims that a shampoo had an anti-alopecia function.
Hu Min

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.

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