BEIJING (China Daily/ANN): China's market regulator said on Wednesday (Dec 30) it had fined e-commerce giant JD, Alibaba Group's business-to-customer platform Tmall and discount e-retailer Vip.com 500,000 yuan (US$76,650) each for irregular pricing.
The State Administration for Market Regulation said in a release on its website that it had made the decision after it received consumer complaints over these companies' pricing strategies, such as raising the price first and then offering discounts, false promotion and inducing consumers to make transactions during the Nov 11 Singles Day online shopping carnival.
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