China Moves to Rein In Platform Pricing Manipulation

China has released draft regulations aimed at curbing unfair pricing practices on internet platforms, following widespread complaints from merchants and consumers. The proposed rules, announced by the National Development and Reform Commission on Saturday, seek to promote transparency and fairness in pricing for goods and services sold online. Platforms and merchants must “agree on and change prices through standardised means such as contracts and orders,” and are required to “adhere to clear pricing regulations, increase the transparency of pricing rules and promptly disclose fee changes to better accept public oversight.” The move responds to allegations that major platforms manipulate prices to boost sales and mislead consumers. The draft is open for public comment for one month.