New law aims to protect finances, privacy of child social media stars

Some young children earn millions of dollars through social media influencing and promotion, but there’s little legislation or protection for most. A new law in France aims to try to safeguard children under the age of 16, protecting their finances and providing some privacy.

The legislation, which was passed unanimously by the French parliament on Oct. 6, creates a “legal framework” that gives social media stars the same protections as French child models and actors.

A press release about the law says videos of child influencers online raise “important questions about the interests of the children they portray” and raises questions about the “impact celebrity can have on the psychological development of children, the risks of cyber-harassment, even child pornography, and the fact that these activities are not regulated by labor law.”

Bruno Studer, the politician behind the bill, told the French newspaper Le Monde that the law would make

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China’s ‘three red lines’ strike delicate balance between curbing real estate debt and local government finances

As China moves to tackle excessive borrowing in the real estate sector, it is walking a tightrope between providing cash-strapped local governments with revenues from land sales and keeping a lid on rising house prices.

Chinese regulators in August tightened funding conditions for 12 major property developers, setting caps on the amount of debt they could hold in relation to cash on hand, the value of their assets and as a proportion of equity in their businesses – dubbed “the three red lines”.

Last week, mainland financial newspaper the 21st Century Business Herald reported authorities had asked large banks to keep the proportion of property loans below 30 per cent of all new loans, citing unidentified sources.

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Property sales growth has surged this year, helping the economy recover from the coronavirus pandemic.

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