BEIJING: & nbsp, Following an investigation into illegal content on his website, the CEO of a major Chinese livestreaming platform has not been seen in public for weeks, according to state-run media outlets.
According to industry insiders, Chen Shaojie, the founder and CEO of DouYu, hasn’t been seen since October. The Paper, a government-run outlet based in Shanghai, reported on Monday( Nov. 6 ) that he may have been involved in some sort of livestream of the platform.
Tencent, a Chinese technology behemoth, is the company’s backer, and DouYu is listed on the US stock exchange for$ 268 million. When AFP inquired about Chen’s movements on Tuesday, a representative refused to give any specifics.
They stated that” DouYu’s business operations remain normal.”
Additionally, according to The Chengdu-based Cover News, Chen’s coworkers were unaware of his whereabouts and unable to touch him.
Although Chen’s detention has not been officially confirmed, extended disappearances by senior Chinese executives are frequently followed by reports that they are being looked into.
The businessman president and executive director of the investment bank China Renaissance, Bao Fan, vanished this year and was afterwards found to be” cooperating” in a government research.
Livestreaming is a multi-million penny trend in China that brings in enormous profits for both well-known influencers and e-commerce tycoons.
Beijing, however, has launched investigations into various major social media platforms and targeted well-known influencers in an effort to combat perceived evil content on the burgeoning industry.
In May, officials launched a thorough investigation into DouYu due to worries about sex and different” vulgar” information.
In recent years, a number of China’s top financiers and businessmen have lost their good grace, and President Xi Jinping has pushed an extreme crackdown on alleged corruption that shows no signs of abating.
Li Xiaopeng, the former head of China’s state-owned bank behemoth Everbright Group, was detained last month on suspicion of accepting gifts.
Wang Bin, the former president and leader of the Chinese Communist Party of China Life Insurance, was given a life sentence for bribery in September.