China imposes upper-limit fine on community group-buying firm
China imposes upper-limit fine on community group-buying firm Xinhua 28 May 2021, 02:44 GMT+10 BEIJING, May 27 (Xinhua) -- China's top market watchdog Thursday imposed a maximum-level fine on the operator of community group-buying platform Nice Tuan over improper pricing that disrupted the market order. The State Administration for Market Regulation required the company to pay a fine of 1.5 million yuan (about 234,265 U.S. dollars) and stop its business for three days in Jiangsu Province and implement rectifications. According to the regulator, the platform dumped products at prices below c...
Source: shanghaisun.com