Chinese lawmakers on Sunday called for early introduction of a draft e-commerce law so as to regulate and facilitate booming e-commerce in the country.
The draft law was submitted for review by legislators at the week-long bimonthly session of the National People's Congress (NPC) Standing Committee, which concluded on Sunday.
It is the first reading of the draft by the top legislature.
During the discussion, legislator Yan Yixin said all parties involved in e-commerce should be subject to regulation of the new law.
Yan suggested the law expand its coverage from the current e-commerce business operators and consumers to e-payment and express delivery service providers.
Protection of personal information is a highlight of the draft law. It stipulates that operators must ensure personal information security for consumers. Those that fail will face fines of up to 500,000 yuan and could have their business certificates revoked.
Legislator Han Xiaowu said more detailed regulations should be set down to specify procedures for citizens to safeguard their legal rights, file a law suit and claim for compensation once their information security was infringed upon.
China is the world's largest e-commerce market. E-commerce trade amounted to over 20 trillion yuan (about 2.87 trillion U.S. dollars) in 2015, with online retail sales totaling 3.88 trillion yuan.
