Latest news with #StateAdministrationForMarketRegulation
Yahoo
24-07-2025
- Business
- Yahoo
China releases draft law amendment to help curb price wars
BEIJING (Reuters) -China released a draft amendment to its pricing law on Thursday as part of efforts to curb excessive competition and price wars among firms, amid persistent deflationary pressures. Chinese leaders have signaled they will rein in price wars among producers as expectations grow for a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation - a move that could pose risks to economic growth. Under the proposed revisions, apart from lawful discounts on seasonal or overstocked goods, or other legitimate reasons for price cuts, firms will be prohibited from selling below cost to drive out competitors or monopolise the market, and from forcing others to adopt similar pricing practices. The draft law, published on the website of the National Development and Reform Commission (NDRC) - the state planner, also stipulates that firms cannot use data, algorithms, or technology to engage in improper pricing behaviors. The NDRC and the State Administration for Market Regulation said in a statement that China's economic landscape has changed significantly since the current pricing law was adopted in 1998. "The vast majority of goods and services prices are now formed by the market, new economic forms and business models are constantly emerging, and issues such as disorderly low-price competition in some industries have become prominent," they said. China will refine standards for identifying price collusion, price gouging, price discrimination and other unfair pricing practices, and take steps to address "involution-style" competition, the state agencies said. The draft amendment, which is open for public comment until August 23, also proposes tougher penalties for unfair pricing practices, including higher fines for violations of clear price marking requirements. China's producer prices dropped for the 33rd month in June. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
24-07-2025
- Business
- Reuters
China releases draft law amendment to help curb price wars
BEIJING, July 24 (Reuters) - China released a draft amendment to its pricing law on Thursday as part of efforts to curb excessive competition and price wars among firms, amid persistent deflationary pressures. Chinese leaders have signaled they will rein in price wars among producers as expectations grow for a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation - a move that could pose risks to economic growth. Under the proposed revisions, apart from lawful discounts on seasonal or overstocked goods, or other legitimate reasons for price cuts, firms will be prohibited from selling below cost to drive out competitors or monopolise the market, and from forcing others to adopt similar pricing practices. The draft law, published on the website of the National Development and Reform Commission (NDRC) - the state planner, also stipulates that firms cannot use data, algorithms, or technology to engage in improper pricing behaviors. The NDRC and the State Administration for Market Regulation said in a statement that China's economic landscape has changed significantly since the current pricing law was adopted in 1998. "The vast majority of goods and services prices are now formed by the market, new economic forms and business models are constantly emerging, and issues such as disorderly low-price competition in some industries have become prominent," they said. China will refine standards for identifying price collusion, price gouging, price discrimination and other unfair pricing practices, and take steps to address "involution-style" competition, the state agencies said. The draft amendment, which is open for public comment until August 23, also proposes tougher penalties for unfair pricing practices, including higher fines for violations of clear price marking requirements. China's producer prices dropped for the 33rd month in June.
Bloomberg
14-07-2025
- Business
- Bloomberg
China Grants Synopsys Approval for $35 Billion Ansys Takeover
Synopsys Inc. has won Chinese approval for a $35 billion buyout of Ansys Inc., clearing a key remaining hurdle for a deal to shore up the US firm's dominance of chip-design software. The State Administration for Market Regulation gave the acquisition a green light, with certain conditions, the agency said in a statement.
RNZ News
02-07-2025
- RNZ News
China bans uncertified power banks on domestic flights
Photo: 123rf Passengers taking domestic flights in China have been banned from carrying uncertified power banks due to concerns over potential safety risks. International passengers with connecting domestic flights in China would also be expected to comply with the ban, a customer service representative from China Southern Airlines told RNZ. In a statement posted on its website, the Civil Aviation Administration of China said passengers on domestic flights were prohibited from carrying power banks that lacked a China Compulsory Certification (CCC) mark as well as devices that had been recalled or had been identified as being non-compliant from 28 June. The CCC mark is a mandatory safety and quality certificate required for products sold in China. Electrical devices bearing the mark have met certain standards relating to safety, reliability and environmental protection that should prevent hazards such as fires, electrical shocks and harm to health and the environment. According to China's aviation agency, power banks and other lithium battery products were believed to be behind several incidents on flights this year, either catching fire or emitting smoke. As a result, some power bank models had been recalled, the agency said. At the same time, the agency said the State Administration for Market Regulation had also revoked or suspended CCC certifications for some power bank and battery cell manufacturers. The agency said airport security departments in China had been asked to strengthen inspection procedures and prevent uncertified or substandard power banks from being brought onto flights.
Reuters
01-07-2025
- Business
- Reuters
China's market regulator approves ANA's takeover of Nippon Cargo with conditions
BEIJING, July 1 (Reuters) - China's market regulator said on Tuesday it has approved All Nippon Airways' (ANA) acquisition of Nippon Cargo Airlines (NCA) with conditions, including a set of binding commitments to preserve fair competition in the China-Japan air cargo market. In a statement, the State Administration for Market Regulation said ANA, NCA and their merged entity must continue to honor existing agreements for cargo ground handling at Tokyo Narita and Osaka Kansai airports. The decision was made to ensure the smooth operation of bilateral trade and safeguard the stability of regional industrial and supply chains, the regulator said.
