Authorities in China have urged internet platforms to improve price compliance and standardize pricing practices ahead of new rules on platform pricing taking effect on Friday.
In a statement released on Thursday, the State Administration for Market Regulation, the National Development and Reform Commission and the Cyberspace Administration of China said they had held a guidance meeting on price compliance for internet platforms.
The announcement came as China steps up efforts to regulate pricing practices on internet platforms, safeguard fair competition and foster a more orderly market environment.
The three departments said some platforms were found to have problems related to price compliance and were required to make immediate corrections, improve compliance mechanisms and effectively prevent price-related violations.
The new rules governing price-related conduct on internet platforms are aimed at further standardizing pricing behavior, protecting the lawful rights and interests of consumers and platform-based businesses, and promoting fair and orderly market competition.
Participants in Wednesday’s meeting urged platforms to standardize subsidy practices and resolutely curb cutthroat price competition.
Thursday’s statement added that platforms should fully respect the independent pricing rights of merchants operating on their platforms and must not interfere with pricing decisions.
The authorities also called on platforms to uphold honest business practices and better protect consumers’ lawful rights and interests by refraining from charging undisclosed fees or engaging in false promotions, price fraud or other illegal pricing practices.
In addition, China’s market regulator said it will continue to strengthen oversight of price competition, curb involution-style competition, safeguard a fair and competitive market environment, and foster a sound market order in which quality products command better prices and competition remains healthy.