The draft of China's first e-commerce law will be reviewed during the 25th session of the 12th National People's Congress Standing Committee held from Dec 19 to 25 in Beijing.
The draft emphasizes the duties and obligations of the third-party platform, stipulates the utilization and protection of e-commerce data and information and regulates the electronic contract and payment, express and logistics services.
The main purpose is to promote the development of e-commerce, regulate the market and protect the legitimate rights and interests of major parties in e-commerce activities.
The existing laws can no longer keep up with the booming growth of e-commerce sector. The turnover of the country's e-commerce surpassed 20 trillion yuan ($2.88 trillion) in 2015. The average annual growth rate of e-commerce reached more than 30 percent during the 12th Five-Year Plan period (2011-15).
In 2013, the Financial and Economic Affairs Committee of the NPC initiated the legislation work related to e-commerce.
The e-commerce law is going to play an important role in protecting consumers as well as create a healthy and fair market environment. It is expected to be officially promulgated next year.
