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SOURCE / ECONOMY
Legislation will rectify market irregularities, prevent foreign firms from abusing customer data By GT staff reporters Published: Mar 08, 2021 07:28 PM
A staff of Shijiazhuang distribution center of Cainiao Network, the logistics platform of e-commerce giant Alibaba, disinfects packages in Shijiazhuang, north China s Hebei Province, Jan. 23, 2021. Logistics companies in Shijiazhuang have strengthened disinfection measures as the COVID-19 prevention and control efforts to make sure the safety of their employees and customers. (Xinhua/Mu Yu)
China will revise the anti-monopoly law, the company law and the corporate bankruptcy law to build a modern economic system and promote technological innovation, the Standing Committee of the National People s Congress (NPC), China s top legislature, said in a work report on Monday.
China’s market regulator fines 5 platforms over price war to grab share
Zhang Dan and Yang Kunyi Published: Mar 03, 2021 08:38 PM
A resident selects vegetables at a supermarket in Xiangfang District of Harbin, northeast China s Heilongjiang Province, Jan. 30, 2021. Price and supply of daily necessities are stable in Harbin amid the ongoing COVID-19 pandemic, local authorities told a press briefing here on Saturday. (Xinhua/Wang Jianwei)
China s State Administration for Market Regulation (SAMR) fined five community group-buying online platforms on Wednesday citing improper price competition practices, a move that shows the country s strengthening supervision of emerging online businesses and efforts to deter technology giants from becoming monopolistic in their businesses.