From Asymmetry to Equilibrium: How Government Regulation Drives Sustainable Digital Asset Management on Media Platforms in China

The rapid digitalization of the media and publishing industry has deepened systemic asymmetries in resources, power, and institutional rights. These asymmetries create fundamental barriers to the economic–institutional sustainability of digital content dissemination. Existing governance frameworks have not yet comprehensively addressed the resulting competitive and informational imbalances. Adopting China’s publishing and media industry as a focal case, this study draws on symmetry theory to develop an integrated analytical framework. It reconceptualizes government regulation as a multi-dimensional governance mechanism operating across three dimensions: resource allocation, technological innovation, and rights protection. We test this framework empirically using Xinbang Index data covering the top 10 publishing and media enterprises from 24 January 2025 to 7 December 2025. Multiple regression analysis and Spearman rank correlation are applied to assess each dimension’s differential impact on content dissemination efficiency. The results yield four key findings. First, all three regulatory dimensions contribute positively to content dissemination efficiency. Second, technological innovation is the most potent symmetry-restoring lever, exerting a statistically robust direct effect on dissemination outcomes. Third, resource allocation provides a necessary foundational contribution, while rights protection operates conditionally—its effect is fully realized only alongside adequate technological and resource inputs. Fourth, an integrated multivariate regression confirms the cross-dimensional hierarchy: the standardized Beta coefficient for technological innovation (β = 0.394) exceeds those for rights protection (β = 0.294) and resource allocation (β = 0.125). No single regulatory instrument is sufficient to achieve dynamic equilibrium. A synergistic, technology-centered combination of all three dimensions is required. This study proposes a tripartite symmetry-based governance strategy for media platform ecosystems. The symmetry framework developed here offers an analytical template for diagnosing analogous asymmetries in other platform-dependent sectors. Empirical validation beyond the Chinese publishing and media context is recommended as a priority for future research.