China begins e-commerce legislation

Tuesday 31 December 2013 08:50 CET | News

China has begun a two-and-a-half-year process of drafting an e-commerce law because of its e-commerce market expansion.

A drafting group for the legislation was set up on a meeting by the Financial and Economic Committee of the National Peoples Congress (NPC). According to a preliminary timetable set at the same meeting, the drafting group will embark on research of the subject and submit a report by the end of 2014, and actual drafting of the law should be completed by June 2016.

The transaction value of Chinas e-commerce industry reached about USD 1.32 trillion (8 trillion yuan) in 2012, up 30.8% year on year.

Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.

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Keywords: China, e-commerce legislation, e-commerce law
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce