BEIJING – China’s market regulator announced draft guidelines on Friday to punish illegal pricing practices such as excessive subsidies and the practice of charging varying prices based on a customer’s shopping behavior by online platforms. According to a statement from the State Administration for Market Regulations, violations of the laws might result in fines ranging from 0.1 percent to 0.5 percent of a company’s annual sales, as well as the suspension of operations (SAMR).
(In Beijing, Sophie Yu, Yingzhi Yang, and Tony Munroe reported; Andrew Heavens edited.)
Reuters is the source of this information./n
