BEIJING – China started a two-and-a-half-year action of drafting a absolute e-commerce law on Friday as its e-commerce bazaar expands at abounding speed.
A drafting accumulation for the legislation was set up on Friday during a affair by the Financial and Bread-and-er Committee of the Civic People’s Congress (NPC).
“Booming e-commerce has become a advance point for civic bread-and-er development and a focal point for adjusting its structure,” said Lyu Zushan, arch of the drafting group.
“As a result, it is in burning charge to aggravate out, replenish, alter and advance absolute laws and regulations,” he said, abacus that a absolute law could advance acceptable and advantageous development of e-commerce.
According to a basic calendar set at Friday’s meeting, the drafting accumulation will commence on analysis of the accountable and abide a address by the end of 2014, and absolute drafting of the law should be completed by June 2016.
The transaction amount of China’s e-commerce industry accomplished about 8 abundance yuan (about $1.32 trillion) in 2012, up 30.8 percent year on year.
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