BUSINESS China's e-commerce hub to build credit evaluation mechanism

BUSINESS

China's e-commerce hub to build credit evaluation mechanism

Xinhua

19:30, January 03, 2019

HANGZHOU, Jan. 3 (Xinhua) -- China's e-commerce hub Hangzhou, capital of Zhejiang Province, plans to build a credit evaluation mechanism in two years to regulate the city's e-commerce players, local authorities have said.

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Photos: VCG

The mechanism, based on a shared credit database, will crack down on fake and shoddy products, pyramid schemes, and default behaviors, as well as fake orders and user comments to improve the credit ratings of online stores.

The city will also tighten its monitoring over illegal behaviors in logistics and delivery services.

Cross-border platforms will also face stricter punishment for tax evasion.

The new policies and mechanism will apply to the city's third-party trading platforms such as B2C, C2C and O2O players, as well as proprietary trading platforms.

Hangzhou will also enhance its protection of customer rights by encouraging standardized online contracts and setting up a foundation of consumer rights protection.

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