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China - Fines for price gouging in Shanghai can be as high as 470,795 USD starting immediately - March 29, 2022

sharon sanders

Editor-in-Chief & President
About 470,795 USD


Shanghai stipulates that the maximum fine of 3 million yuan for price gouging will be implemented today
March 29, 2022 01:56 Sina.com author China News Network

  Price gouging can be fined up to 3 million yuan

  News from this newspaper (Reporter Pei Longxiang) In order to protect citizens' "rice bags" and "vegetable baskets", a few days ago, the Shanghai Municipal Bureau of Market Supervision and the Municipal Development and Reform Commission jointly issued the "Guiding Opinions on Determining Illegal Behaviors of Price Gouging During Epidemic Prevention and Control" (hereinafter referred to as ""Guidelines"). Opinions"), price gouging can be fined up to 3 million yuan, which will be implemented immediately.

  Recently, in Shanghai Takashimaya Department Store, a Chinese cabbage sold for 77.9 yuan (unit price 32 yuan/kg), and a bundle of celery sold for 43.6 yuan (unit price 78 yuan/kg). The photos were uploaded by netizens. Things are dealt with quickly. On March 26, the Shanghai Municipal Bureau of Market Supervision announced the investigation results and punishment decision: the relevant behaviors of the supplier Wang and Takashimaya Department Store were suspected of violating the relevant provisions of the "Price Law of the People's Republic of China" and constituted an illegal act of price fraud. A maximum penalty of 100,000 yuan was imposed on Wang, and a maximum penalty of 500,000 yuan was imposed on Takashimaya Department Store. On March 27, the Shanghai Consumer Protection Committee revealed that it would interview the operators involved on the protection of consumer rights and interests. At the same time, the Shanghai Consumer Protection Committee called on consumers to say "no" to unscrupulous merchants taking advantage of the epidemic to drive up prices.

  The "Opinions" make it clear that if an operator fabricates or spreads information on price increases, or raises prices substantially, it constitutes price gouging. How to define "price gouging"? There are also clear standards in the "Opinions". It is an illegal act to drive up prices if the relevant commodities sold by the operators in all online and offline trading channels within the administrative area of ​​this city exceed the prescribed price difference between purchases and sales.


  According to the staff of the Shanghai market supervision department, from the current situation, the closed control measures have gradually increased, and some citizens have a strong demand for short-term centralized procurement of living materials, which has caused the prices of some vegetable varieties in Shanghai to rise in stages and temporarily. "We encourage citizens to actively participate in the supervision of illegal acts in terms of prices, but we must also treat the issue of rising vegetable prices rationally. Selling more expensive vegetables is not necessarily 'price gouging'." The staff member said that the sales price of goods is determined by An external monetization result presented by the combined effect of multiple market factors.

  It is reported that Shanghai is taking various measures to ensure the stability of market prices. The market supervision department has recently continued to strengthen the price supervision of important livelihood commodities and epidemic prevention supplies, focusing on agricultural product wholesale markets, surrounding vegetable farms in closed and controlled communities, and temporary vegetable sales points, focusing on online operators, and increasing price inspections The strength of inspections, policy publicity and reminders and warnings, and strictly investigate illegal acts such as price gouging and collusion to increase prices. As of March 25, Shanghai has dispatched 15,284 price enforcement officers, inspected 24,418 related units, and issued 19,292 warning letters. We have urged rectification of problems such as irregularities in clearly marked prices found by operators during the inspection.

zhttps://k.sina.com.cn/article_1784473157_6a5ce64502002gshi.html
 
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