Joint approach to market supervision

An integrated management system to be established in the Yangtze River Delta will enable joint inspections and crackdowns.

An integrated market supervision and management system in the Yangtze River Delta will incorporate joint inspections and a unified food quality and safety information sharing platform, officials announced at a conference in Shanghai on Wednesday.

The move will make it easier to register new businesses.

Foreign investors who have set up a foreign-funded company in Shanghai or in the provinces of Zhejiang, Jiangsu and Anhui don't need notarization or authentication if they want to invest in any of these places when they submit qualifying documentation.

A database covering all market subjects including companies and private businesses in the delta will be established, and consumers will be able to forward their opinions and complaints regarding shopping websites and online food delivery platforms to any of the region's market watchdogs.

A management standard regulating all e-commerce platforms in the delta will be released under the mechanism.

Joint law enforcement campaigns will be conducted by the region's market watchdogs to crack down on unfair competition, monopolies, price irregularities and advertising irregularities.

A credibility system on testing agencies in the region will also be established, and a guideline on the handling of substandard food products will be released for early intervention of authorities.

Consumer councils in the delta also signed a cooperation agreement on Wednesday. 

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