The State Council Has Revised The Price Punishment Regulations &Nbsp, And Will Severely Punish The Bidding Price.

Premier Wen Jiabao presided over the 29 day

The meeting pointed out that recently, the State Council has issued some policies and measures to stabilize the general level of consumer prices and safeguard the basic livelihood of the masses, and achieved preliminary results.

These measures are mainly based on economic and legal means, supplemented by the necessary administrative means, focusing on developing production, ensuring supply, maintaining market order, and protecting the interests of producers and consumers.

In view of the new situation and new problems in the current price order, it is necessary to amend the provisions on administrative penalties for price violations in order to severely punish price violations according to law and maintain normal market price order.

The revised draft regulations will collude with each other, maliciously hoarding, fabricating and distributing price information to drive up prices and profiteering as punishments, and increase penalties.

The meeting decided that the bill was further amended and promulgated by the State Council.