NPC drafting new China e-commerce laws for 2016
Posted: March 26, 2015. "Expect some positive changes trading online in China."
"The rapid pace of e-commerce in China has outpaced legal reforms" stated Robert Burns, GM of China Sales Co."It is necessary for clarity on internet laws. Like with the only recent allowance of digital communications to be used as evidence in courts, the laws and policies are catching up with the times.
In China e-commerce it is the small value trades and exchange in the C2C sector today accounting for over half of all sales, this is approximately 3%-5% of China's annual national GDP , and growing. However, the sheer volume of fake goods or services is astounding. It can be up to half-of all the advertised goods for sale on some platforms, and this rampant consumer and brand rip offs has got to be reigned in. "We are talking some big numbers here" stated Robert. "Even if we take a loose and conservative estimate that 20% of this is "not original product" then even what we can count still equates to an approximate USD$300+ Billion dollars a year in the online trade of counterfeit goods and services."
It will also be interesting to see regulations around the internet giants and mergers, O2O mobile wallet transactions data retention, all hot topics globally right now.
Once completed the new Chinese laws may-well be more advanced than any current western legal framework.
From one perspective "easier to be able to pass new internet laws behind your own national firewall," but am sure the frameworks and principles and software advances inside China will affect how we use the internet globally. I look forward to hearing more as it is released" stated Robert Burns in Melbourne today.
Link to original article "Article from CCTV News"
Some selected quotes taken from press release:
...."Deputy director of the (China) National People’s Congress (NPC) Financial and Economic Affairs Committee Yin Zhongqing said that drafting of an e-commerce law is expected to be completed by the end of this year. The draft legislation will then be submitted to the NPC Standing Committee for deliberation next year.
Yin said that the NPC Financial and Economic Affairs Committee has formed 14 special research groups with experts and academics from relevant departments of the State Council and e-commerce model cities since the e-commerce law drafting team was formed more than a year ago. The research groups conducted systematic studies on the issues involving e-commerce legislation. Currently, an outline of the e-commerce legislation has been drafted."
..."In trading behaviour, provisions of transaction process, trading rules and trading standards are required to be laid down, which include electronic contracts, trade in products, services provision, payments and security. In dispute settlement mechanism, regulations are required with regard to the integrity of the business environment, quality of goods and services, consumer protection and intellectual property protection.Meanwhile, regulations are set to be imposed on the autonomy of e-commerce enterprises, self-regulation of the industry, government supervision and cross-border e-commerce...."