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China to crack down on overpricing during upcoming holiday

Xinhua | January 20, 2023


China will toughen the crackdown on overpricing of goods during the upcoming Spring Festival holiday to better protect consumers' interests, the country's top market regulator said Thursday.

Holding a zero-tolerance attitude toward any form of overpricing, the State Administration for Market Regulation will prioritize stabilizing prices and boosting consumption during the holiday, Chen Zhijiang, an official with the administration, told a press conference.

The regulator will focus on consumption related to people's livelihoods, with more attention to the price fluctuations in foods and specialty products, Chen said.

Any act of fraudulent pricing will face strict punishment, said the official, adding that the regulator will cooperate with relevant authorities to stabilize the prices of grain, pork, and other key necessities and keep a closer eye on coal and natural gas prices.

Amid efforts to ensure price stability for tourism-related consumption, the regulator has urged public transport operators to carry out national policies regarding pricing.

It is also taking steps to guarantee orderly pricing in tourist attractions, car parks, and venues for catering, accommodation, entertainment, and shopping, Chen said.

The Spring Festival holiday, when Chinese people traditionally travel home for family reunions, runs from Jan. 21 to 27 this year.