China will tighten rules around price competition to prevent malicious price competition and predatory pricing, according to the State Administration for Market Regulation during a press briefing on Sunday.
As part of the country's 15th Five-Year Plan, the regulator will accelerate revisions to the Price Law to establish a legal framework penalizing below-cost dumping. Authorities will also fully implement the revised Anti-Unfair Competition Law to crack down on market malpractices, including false advertising, commercial discrediting and bribery.
A nationwide sweep has already yielded results, with authorities investigating 29,000 cases involving illegal substandard and low-priced goods through the end of August.