SAIC to Increase Regulation of Online Service Transactions

On November 10, the State Administration for Industry and Commerce (SAIC) issued a set of draft measures intended to promote development and increase regulation in the online service transaction sector. According to the SAIC, growth in online service transactions is now outpacing growth in online transactions of physical goods, but there is very little regulatory framework to ensure that online service transactions take place in a fair and secure manner.  

To address this emerging sector, the SAIC will work to promote a more comprehensive legal and regulatory framework for online service transactions, building on the recent Online Transaction Management Measures as a baseline. 

The draft measures also call on the SAIC to collect significantly more data regarding online service transactions so as to better understand the scale and nature of such transactions.