The China Internet Association has issued the "Internet Platform Price Behavior Self-discipline Initiative": no mandatory requirement for "lowest price on the entire network" or opening of "automatic price matching".
The China Internet Association has released the "Self-discipline Initiative on Internet Platform Pricing Behavior". The initiative focuses on seven specific self-discipline requirements including compliance with laws and regulations, independent pricing, clear pricing, resistance to low-price dumping, regulation of algorithm application, prevention of price collusion, and protection of consumer choice rights. The main contents include: first, adhere to compliance with laws and regulations, maintain market price order, and ensure the right to information, the right to voluntary choice, and the right to fair trade of the parties involved in transactions; second, ensure independent pricing, regulate platform price management, and respect the independent pricing power of operators within the platform, without requiring the "lowest price on the internet" or implementing "automatic price matching"; third, implement clear pricing, eliminate price fraud, and truthfully explain the rules of promotions; fourth, resist low-price dumping, not selling goods or providing services at prices lower than costs, disrupting normal business order; fifth, regulate algorithm application, prohibit the use of data and algorithms to implement unreasonable differential pricing under the same trading conditions; sixth, prevent price collusion, strengthen internal governance of the platform, take timely measures to address violations; seventh, protect consumer choice rights, regulate automatic renewal and bundling behavior, and provide convenient cancellation methods.
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