On 2 July 2021, the State Administration for Market Regulation (SAMR) released the “Provisions on Administrative Penalties against Price-related Illegal Activities (Draft for Public Comment)” (hereinafter referred to as “the Daft”, 价格违法行为行政处罚规定(修订征求意见稿)), whose public opinion period closes on 2 Aug. 2021. The Daft for Comment aims to maintain the price order and protect the legitimate rights and interests of consumers and business operators.
In accordance with the Daft, where the business operator violates Article 14 (2) of the Price Law, dumps goods at prices below the normal price so as to squeeze out competitors or monopolize the market, thus disrupting the normal order of production and operation and damaging the interests of the State or the lawful rights and interests of other business operators, the business operator shall be ordered to make corrections, confiscated of his/her illegal gains, and may be concurrently fined not more than five times of his/her illegal gains.
Cover Photo by David Emrich (https://unsplash.com/@davidemrich) on Unsplash
Contributors: CJO Staff Contributors Team
