The heightened scrutiny by Chinese regulators since December has included the announcement of an investigation by e-commerce giant Alibaba, punishing Alibaba-backed and Tencent-backed firms for not conducting anti-trust reviews for the deals, while other companies Has also been fined for irregular pricing.
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China’s market regulator will launch new rules this year to clarify the responsibilities of platform companies involved in online transactions, the state-owned Xinhua agency said. Wei Li, an official of the State Regulation of Market Regulation (SAMR), told Xinhua that the regulator will “adopt more powerful supervision methods this year and deploy a series of actions” to address major problems in the online marketplace.
The regulator will also accelerate the creation of a system that will collect real-time online transaction information for better monitoring and coordination, Weiwa said on Monday, which is Consumer Rights Day in China.
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The government has given it the green signal that will issue new rules for the Internet sector. The heightened scrutiny by Chinese regulators since December has included the announcement of an investigation by e-commerce giant Alibaba, punishing Alibaba-backed and Tencent-backed firms for not conducting anti-trust reviews for the deals, while other companies Has also been fined for irregular pricing. .
SAMR said it would also strengthen the legal system and issue detailed rules to protect the rights of consumers.
It added that administrative guidance can be expected citing major promotional events and the single online, annual online shopping spree created by e-commerce company Alibaba Group.
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