Slide 1: City's new safeguards for online trading Source : http://www.Shanghai.gov.cn
Slide 2: • Online business operators will be required to display their business licenses prominently on Web pages and provide receipts to protect consumers' rights in the fast-developing e-business, local legislators said yesterday. The rules came after the Standing Committee of the Shanghai People's Congress, the city's top legislative body, drafted the country's first e-business regulations during the fourth session of its 13th meeting which opened yesterday. The e-business operators affected include both companies that set up online business transaction platforms and businesses which conduct corporate activities via the Internet. But individual online store owners who don't have a business license - such as sellers on eBay.com or Taobao.com - are not involved, according to the draft.
Slide 3: • Online business platforms should set up a unified credit rating system to rank sellers according to their business credit records. The results are expected to function as reference information for consumers, the draft noted. The city's market watchdog should also team up with online information supervision administrations to set up an e-business complaint network as well as publishing ebusiness consumption warnings on a regular basis. All e-business receipts and transaction information records should be kept for at least two years, said Yu Guosheng, an SPC standing committee member and one of the leaders of the online consumer laws
Slide 4: • "Shanghai is one of the most booming e-business markets in the country, but legal supervision and consumer rights protection are still missing and have not been able to meet the market demands," Yu said. "We need to work out laws and policies that can keep up with the pace of e-business development," he added. Shanghai has clinched the top position in the country in e-business volume since 2006. Its annual e-business volume rocketed from 25.4 billion yuan (US$3.69 billion) in 2002 to 242.6 billion yuan last year.