GO
| HSI1 | 24,271.20 | +59.85 | 162.63B |
| HSCEI1 | 8,168.57 | +20.70 | 49.87B |
| Back Zoom + Zoom - Block Traded | |
|
7 CN Authorities Launch '5 Excellence' Initiative for Quality E-commerce, Rectifying Disorderly Competition Such as 'Automatic Price Matching' and 'Lowest Price Across Internet'
2026-10-12 12:51:55 China's Ministry of Commerce and six other authorities issued a notice on implementing the "Five Excellence" initiative for quality e-commerce, mentioning the need to strengthen the cultivation of quality e-commerce operators, promote the optimization and transformation of platform rules, and establish a full-chain quality control system. In addition, the authorities will jointly rectify disorderly and irrational competition. Supervision and law enforcement in the e-commerce sector will be strengthened to correct disorderly competitive practices by e-commerce platforms such as "automatic price matching" and "lowest price across the internet". Rules governing platform commission charges and merchant ratings will also be standardized to avoid squeezing the survival space of quality merchants. Illegal and non-compliant activities such as fake orders and manipulated reviews will be cracked down on. A dialogue and communication mechanism between e-commerce platforms and small and medium-sized merchants will be established to coordinate and resolve operational difficulties and bottlenecks, promoting win-win development for all parties. ~ AASTOCKS Financial News Website: www.aastocks.com | |