China Establishes e-Commerce Union To Monitor, Share Quality Data

Posted by: : Paul EbelingPosted on: January 22, 2015 China Establishes e-Commerce Union To Monitor, Share Quality Data
 

China Establishes e-Commerce Union To Monitor, Share Quality Data

An e-Commerce union has been established in China to share product quality information and identify blacklisted businesses, a senior official with the quality watchdog said Thursday.

Zhang Qinrong, deputy head of China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), said the union will connect e-Commerce enterprises and rid the market of those that are dishonest and/or illegal.

The e-Commerce industry is booming in China, with online retail turnover hitting CNY 1.8-T (US$293.89-B) in the 1st 3 Quarters of Y 2014, up 49.9% from a year ago.

Complaints over counterfeit or poor quality products need to be addressed by unified supervision.

Zhang said the AQSIQ has set up the union as a public service platform for sharing information and is planning to build a database to select and analyze information.

Stay tuned…

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Paul Ebeling

 

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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