The end of anything-goes ecommerce? – China’s latest business and technology news

Business & Technology

A summary of the top news in Chinese business and technology for November 1, 2017. Part of the daily SupChina newsletter, a convenient package of China’s business, political, and cultural news delivered to your inbox for free. Subscribe here.

JINHUA, CHINA - NOVEMBER 10: A woman running business of banners poses with a support banner for Republican presidential candidate Donald Trump at Yiwu International Trade Centre on November 10, 2016 in Jinhua, Zhejiang Province of China. Businessmen at Yiwu International Trade Centre exported their election banners to foreign countries during the 2016 U.S. presidential election. (Photo by VCG/VCG via Getty Images)

Online shops operated by individual entrepreneurs selling goods through sites like Taobao and social media like Weibo and WeChat have boomed in recent years, unhampered by any official regulation. That looks likely to change in the near future, Sixth Tone reports, because a piece of legislation that requires all sellers to register with authorities and pay taxes just like brick-and-mortar retailers has been introduced to the country’s top legislature, the Standing Committee of the National People’s Congress.

Here’s more context from Sixth Tone:

  • Online sales have grown by an average of 35 percent per year for the past five years.
  • The new legislation has been in the works since 2013, and legislators “first put it to the [Standing Committee] last year, before soliciting feedback from the public.”
  • It aims to “facilitate ecommerce growth, maintain market order, and protect shoppers from fakes and scammers.”
  • It would exempt “vendors selling handicrafts, agricultural products, or skills such as language tutoring.”

Read more on SupChina about the fast-moving world of ecommerce in China from the perspective of female entrepreneurs.