 "Online merchants that fake sales or feedback can be fined as much as 2 million yuan or lose their business licence. Photo: Reuters")
China enacted sweeping changes to a business competition law to address fraud in the e-commerce industry, which is plagued by malfeasance ranging from fake positive reviews to merchants goosing sales numbers.
The National People’s Congress adopted revisions Saturday to the Anti-Unfair Competition Law intended to address online retailers, the official Xinhua News Agency reported. The changes take effect January 1 but were announced days before Alibaba Group Holding’s November 11 Singles’ Day bargain extravaganza, which dwarfs Black Friday in the US in terms of revenue.
The Chinese law initially took effect in 1993 as a way to protect consumers and businesses from
