On September 20, Shu Wei, press spokesperson and deputy director of the General Administration of Market Regulation, said at the press conference of the State Information Office that the “15th Five-Year Plan” period will accelerate the revision of the price law, study and formulate regulations to stop low price dumping, guide relevant industry associations to formulate cost estimation standards, and promote the formation of a “1+1+N” legal system to regulate low price dumping. Take the lead in carrying out cost investigations and price checks on enterprises that engage in malicious low price competition and disrupt production and operation order, and deal with them strictly in accordance with the law. It will promote the implementation of Internet platform price behavior rules, continue to regulate price competition in the platform economy, study, formulate and implement provisional regulations on the price supervisor system, and consolidate the main responsibility of enterprises for price compliance.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.