China to Tighten Online Selling: Reports

The Beijing Industrial and Commercial Administration will implement online store regulations on Aug, 1, according to wire service reports.

The report said regulations will require both individual and corporate sellers to have a business license for online operations. E-commerce network operators that allow unlicensed sellers to operate on their platform can be fined from 20,000 Chinese Yuan ($2,917) to 500,000 Chinese Yuan ($72,928) under the new rule, and all sellers are required to report their name and business scale on their Web site before the end of the year.