Wen Jiabao: Increase Punishment For Illegal Pricing

Guide: In view of the new situation and problems in the current price order, it is necessary to revise the Provisions on Administrative Penalties for Price Violations in order to severely punish price violations according to law and maintain the normal market price order. The revised draft regulations will focus on the behaviors of collusion, malicious hoarding, fabricating and disseminating information about price increases to drive up prices and make huge profits, and increase the punishment.

premier of state council Wen Jiabao On the 29th, presided over the executive meeting of the State Council and decided to《 Price violations Provisions on Administrative Penalties.

The meeting pointed out that recently, the State Council has introduced a stable Consumer price Some policies and measures to ensure the general level of people's basic living have achieved initial results. These measures mainly use economic and legal means, supplemented by necessary administrative means, to focus on developing production, ensuring supply, maintaining market order, and protecting the interests of producers and consumers. In view of the new situation and problems in the current price order, it is necessary to revise the Provisions on Administrative Penalties for Price Violations in order to severely punish price violations according to law and maintain the normal market price order. The revised draft regulations will focus on the behaviors of collusion, malicious hoarding, fabricating and disseminating information about price increases to drive up prices and make huge profits, and increase the punishment. The meeting decided that the draft, after further revision, would be promulgated and implemented by the State Council.