Companies accused of hiking prices amid pandemic

Hu Min
City officials say price-gauging will not be tolerated, warn of harsh penalties.
Hu Min
Companies accused of hiking prices amid pandemic

Officials check a customer.

A pharmacy in Shanghai's Yangpu District more than doubled its prices to profiteer from the COVID-19 resurgence, officials said.

The Jiangwan outlet of Yifeng Pharmacy raised the price of sunflower seed oil to 150 yuan (US$22.90) per barrel on its e-commerce platform from 77 yuan per barrel sold offline, according to the city's market watchdog.

That violated China's pricing regulations and was deemed as price gouging.

The pharmacy is under investigation by the Shanghai Administration for Market Regulation.

In a separate case, Shanghai Suhuifei Catering Co Ltd registered in Xuhui District is being investigated for changing the content of its bread and cake packages without informing buyers using its community group purchase scheme.

If found guilty, that is fraud, say the city's market regulators.

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