Platform Economy New Rules Land: Commission Caps and Data Sharing

Content

In February 2028, China's State Administration for Market Regulation issued "Several Measures on Strengthening Platform Economy Supervision," dropping a bombshell in the platform economy sector.

Core Content

The new rules' core provisions are threefold: First, set commission caps for food delivery, e-commerce, and local life platforms—commission rates for each category shall not exceed 70% of the platform's prior-year average, with violators facing fines of 4% of annual revenue; second, require platforms with daily active users exceeding 50 million to open business data interfaces to small and medium merchants, allowing merchants to access core data such as traffic sources and user profiles; third, prohibit platforms from implementing differential pricing for their own operations versus third-party merchants using algorithms.

Industry Reaction

Following the announcement, Meituan, Alibaba, and Douyin platforms all saw stock prices drop more than 8% in a single day. Market concerns were evident: commission income is the core profit source for platforms, and limiting commissions means systematic compression of profit margins.

But regulators' attitudes are firm. Relevant officials clearly stated at press conferences: "The platform economy has entered a stage of standardized development from wild growth, and monopoly behaviors by some platforms have seriously harmed the interests of small/medium merchants and consumers."

Actual Impact Assessment

Three months later, the new rules' impacts are gradually emerging.

The direct impact of commission caps is relatively limited—prior to this, actual commission rates had already decreased due to competitive pressure, and the new rules more "confirm" industry status quo rather than forcibly lowering them. But the data sharing provision's impact is greater: a technical director at a leading e-commerce platform revealed the platform invested over 200 million yuan transforming its data architecture to meet data opening requirements, with data security responsibility boundaries still being explored.

Feedback from small/medium merchants is more positive. Multiple food and beverage merchants stated that data opening allowed them to "finally know where traffic comes from," enabling more targeted operational adjustments. But some merchants worry: Does opening data mean platforms must also open their "moats"? Will the platform's algorithmic black box be forced open by regulators?

Boundary

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