Investing.com — China has proposed amendments to its E-Commerce Law that would expand its scope beyond online marketplaces and merchants, introducing broader oversight of the country’s fast-growing digital economy, Bloomberg reported on Saturday.
The draft amendments, released for public consultation by the State Administration for Market Regulation and the Ministry of Commerce, would revise platform governance rules and introduce additional regulatory measures alongside existing penalties such as fines and business suspension orders.
The proposal also establishes a framework for businesses operating across multiple sectors, calling for more consistent supervision of online and offline commercial activities. It seeks to strengthen coordination among central and local government agencies responsible for enforcing e-commerce regulations.
Chinese regulators said the revisions are intended to better define the rights and obligations of participants in the platform economy while addressing serious violations that have drawn significant public concern.
The draft also includes provisions aimed at supporting Chinese companies expanding overseas, encouraging greater industry self-regulation and strengthening international cooperation on e-commerce standards.
In addition, the proposed changes seek to align China’s regulatory framework more closely with international practices while introducing countermeasures designed to protect the lawful rights and interests of Chinese businesses operating at home and abroad.
The amendments remain open for public consultation before they can be finalized. China has tightened oversight of its internet sector in recent years, introducing a series of measures covering data security, antitrust practices, consumer protection and competition among major online platforms.
Source: finance.yahoo.com
