China proposes rules to punish illegal e-commerce pricing By Reuters

July 2, 2021 admin Stock News 0

© Reuters. FILE PHOTO: A woman checks her phone as passengers arrive at the Beijing Railway Station in central Beijing, China February 1, 2018. REUTERS/Damir Sagolj/File Photo

BEIJING (Reuters) – China’s market regulator issued draft rules on Friday to punish illegal pricing activities, including heavy subsidies and the practice by online platforms of charging different prices based on a customers’ purchasing behaviour.

Violation of the rules could incur a fine of 0.1% to 0.5% of a business’ annual sales or even suspension of operations, according to a statement from the State Administration for Market Regulations (SAMR).

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