Proposal for E-commerce Law Amendments Seeks Public Input, Outlines 20 Measures to Foster Healthy Platform Economy

Deep News08:32

The State Administration for Market Regulation and the Ministry of Commerce have initiated a period for soliciting public feedback on the drafted amendments to the E-commerce Law of the People's Republic of China.

The proposed amendments consist of twenty articles, addressing five key areas for enhancement.

The first area involves broadening the scope of the law's application. It seeks to more clearly define the rights and obligations of all participants in the platform economy, building upon the existing framework for platforms and operators within them.

The second focus is on strengthening platform accountability systems. Beyond current measures like fixed fines and orders to suspend business for rectification, the amendments aim to introduce a richer set of regulatory tools to support sustained oversight.

The third key point establishes a coordinated regulatory mechanism. To address the cross-sector and hybrid nature of platform businesses, the amendments add a principle for consistent management of online and offline operations, aiming to enhance integrated supervision through inter-departmental coordination and collaboration between central and local authorities.

The fourth area targets the regulation of prominent illegal activities in e-commerce. It proposes revisions to relevant clauses to tackle issues that have drawn significant public concern in practice, thereby directly addressing societal demands.

The fifth aspect promotes openness and cooperation in e-commerce. It encourages the alignment of rules, regulations, governance, and standards in the e-commerce sector with international norms, strengthens industry self-regulation, guides orderly expansion overseas, adds countermeasures against external actions, and safeguards the legitimate rights and interests of enterprises.

Moving forward, the State Administration for Market Regulation and the Ministry of Commerce will refine the draft amendments based on the public feedback received and work towards the prompt revision and enactment of the E-commerce Law to establish a solid legal foundation for innovation and the healthy development of the platform economy.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment