Regulators act to halt price gouging amid lockdowns

Shanghai's market regulators have stepped up inspections on pricing irregularities to stamp out price gouging, authorities said on Saturday.

Due to lockdowns at some residential complexes in the city, there has been a temporary rise in the prices of some vegetables, while the prices of meat and eggs remain relatively stable.

To ensure a stable market order, authorities are cracking down on price gouging with a target of areas near locked-down residential communities and online platforms, the Shanghai Administration for Market Regulation said.

Between March 14 and 17, more than 5,800 businesses were ordered to abide by pricing regulations and not to disrupt market pricing order, particularly on the sales of vegetables and meat, as well as COVID-19 preventive items such as masks, disinfectants and COVID-19 testing kits.