Legislature Passes Revisions on Consumer Rights Law
China’s top legislature recently passed a revision on the law of consumer rights and interests. This will be the first revision of the law after it was implemented in 1993. During the bi-monthly session 150 members of the Standing Committee of the 12th National People’s Congress have voted for the revision of the bill with two opposing and one abstain. The said revision will focus on protecting the rights and interests of consumers better, tightening the liabilities of business and place regulations in internet shopping.
The revision came just in time as the country is trying to turn domestic consumption as a motive for economic growth. Another main principle of the revision is to increase the confidence of consumers. When people feel safe, they are willing to spend more and business will see more profits and increase in revenues along with the expanding of domestic demand. Consumer rights law plays a critical role in protecting the rights of customers in order to maintain market order, and for the past twenty years changes can be seen on how people shop and their ideas of consumption.
The revisions will look at the changes such as consumer privacy on online shopping along with other problems such as the difficulties a person face in claim their rights. The new consumer rights law will help create a consumer friendly society and will have an impact on the transformation of the economic growth pattern in the contry further promoting harmony and stability.