China fines JD.Com, Alibaba's Tmall, Vipshop for irregular pricing
Global Economy
30 December, 2020, 05:40 pm
Last modified: 30 December, 2020, 05:41 pm
The State Administration of Market Regulation said in a social media post that it had taken the decision after it received consumer complaints over the companies’ pricing strategies around November 11 shoping events.
FILE PHOTO: A logo of JD.com is seen on a helmet of a delivery man in Beijing, China June 16, 2014. Picture taken June 16, 2014. REUTERS/Jason Lee
China's market regulator said on Wednesday it has fined JD.Com Inc, Alibaba's Tmall and Vipshop 500,000 yuan ($76,656.55) each for irregular pricing.
The State Administration of Market Regulation said in a social media post that it had taken the decision after it received consumer complaints over the companies' pricing strategies around November 11 shoping events.
Alibaba and JD.Com did not immediately respond to requests for comment, while Vipshop could not be immediately reached for comment.
($1 = 6.5226 Chinese yuan renminbi)
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