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| Category | PRICE | Organ of Promulgation | The Standing Committee of the National People's Congress | Status of Effect | In Force |
| Date of Promulgation | 1997-12-29 | Effective Date | 1998-05-01 |
|
Price Law of the People's Republic of China |
|---|
Article 1 This Law is enacted with a view to standardizing the price
acts, giving play to the role of price in the rational allocation of
resources, stabilizing the overall price level of the market, protecting
the lawful rights and interests of the consumers and operators and promoting
the sound development of the socialist market economy.
Article 2 This Law shall be applicable to price acts taking place
within the territory of the People's Republic of China.
The prices referred to in this Law include the prices of commodities and
the prices of services.
The prices of commodities mean the prices of all kinds of visible products
and invisible assets.
The prices of services mean collection of fees for all kinds of paid-for
services.
Article 3 The State practises and gradually perfects the price mechanism
shaped mainly by the market under macro economic regulation and control.
Determination of prices shall be in line with the law of value, prices
of most commodities and services shall be the market-regulated prices and
prices of an extremely small number of commodities and services shall be
the government-guided prices or the government-set prices.
Market-regulated prices mean those prices determined autonomously by the
operators and formed through market competition.
The operators referred to in this Law mean the legal persons, other
organizations or individuals engaging in the production and management of commodities or provision of paid services.
Government-guided prices mean those prices determined to guide the
operators by the competent departments of price of the government or other
departments concerned, the baseline prices and their range of fluctuations
in accordance with the pricing authority and scope in pursuance of the
provisions of this Law.
Government-set prices mean those prices determined by the competent
departments of price of the government or other departments concerned
in accordance with the pricing authority and scope in pursuance of the
provisions of this Law.
Article 4 The State supports and promotes fair, open and lawful
market competition, maintains normal price order and carries out
administration, supervision and necessary regulation and control over
price activities.
Article 5 The competent department of price under the State Council
shall be uniformly responsible for the work related to prices nationwide.
Other departments concerned under the State Council shall be responsible
for the work related to prices concerned within their respective functions,
responsibilities and scope.
The competent departments of price under local people's governments Article 6 Market regulated prices shall be practised and determined Article 7 The operators shall, in determining prices, abide by Article 8 Production and management costs and market supply and demand Article 9 The operators shall exert efforts to improve the administration Article 10 The operators shall, in accordance with their management Article 11 The operators have the following rights in the conduct of price activities: (1)autonomous determination of prices under market regulation; (2)determination of prices within the range prescribed by government- (3)determination of prices for trial sale of new products within the (4)report or filing a charge against acts infringing on his/her right Article 12 The operators shall, in conducting price activities, abide Article 13 The operators shall, in selling, procuring commodities and The operators shall not sell commidities with additional price besides Article 14 The operators shall not commit the following unfair price (1)manipulation of market price in collusion to the detriment of the lawful rights and interests of other
operators or consumers; (2)dumping at the lower-than-the-cost price and disrupting the normal (3)concoction and spreading of price-hike information, jacking up (4)luring consumers or other operators to conclude transactions with it (5)practising price discrimination towards other operators with (6)procuring, selling commodities or providing services at prices (7)seeking exorbitant profits in violation of the provisions of laws (8)other unfair price acts prohibited by laws and administrative Article 15 All types of intermediate agencies shall abide by the Article 16 The operators shall abide by the relevant provisions of this Chapter and maintain the order of the domestic market in
selling Article 17 Industries organizations shall abide by price laws, Article 18 The government may enforce government-guided prices or (1)the prices of an extremely small number of commodites vital (2)the prices of a small number of commodities the resources of which (3)the prices of commodities under natural monopoly management; (4)the prices of essential public utilities; and (5)the prices of essential non-profit services. Article 19 The pricing catalogs of the Central Government and local The Central Pricing Catalog shall be compiled and revised by the Local Pricing Catalogs shall be compiled by the competent departments Local people's governments at all levels below people's governments of the provinces, autonomous regions
and municipalities under the Central Article 20 The competent department of price and other departments The competent departments of price and other departments concerned of people's governments of the provinces,
autonomous regions and municipalities Municipal and county people's governments may, in accordance with the Article 21 Determination of the government-guided prices and government- Article 22 Competent departments of price and other departments concerned When the competent departments of price of the government conduct price Article 23 The system of testimony shall be established under the Article 24 The government-guided prices and government-set prices shall, Article 25 The specific applicable scope and price level of the The consumers and operators may come up with proposals for adjustment Article 26 Stabilization of the overall market price level constitutes Article 27 The government may establish essential commodities reserve Article 28 To keep up with the requirements of price regulation and Article 29 The government may bring into effect the protective prices Article 30 When there is a marked rise in the prices of essential People's governments of the provinces, autonomous regions and Article 31 When drastic fluctuations and other abnormal conditions Article 32 Upon elimination of the circumstances for the implementation Article 33 The competent departments of price of people's governments Article 34 The competent departments of price of the government may, (1)inquire the interested party or the person involved and demand that (2)inquire into and duplicate the account books, invoices, vouchers, (3)investigate the properties relating to law-breaking acts in price, (4)may register for safekeeping in advance under circumstances Article 35 When subject to the supervision and inspection of the Article 36 Functionaries in charge of price of government departments Article 37 Consumer organizations, price supervision organizations of workers and staff members, neighborhood committees, villagers'
committees Media units have the right to exercise supervision over price through Article 38 The competent departments of price of the government should All units and individuals have the right to report on law-breaking acts Article 39 Any operator who fails to implement the government-guided Article 40 Any operator who commits any of the acts listed in Article Acts listed in Item (1) and Item (2) of Article 14 of this Law national Article 41 Any operator who causes consumers or other operators to pay Article 42 Any operator who violates the provision of clearly marking Article 43 Any operator who has been ordered to suspend relevant Article 44 Whoever refuses to provide information required for Article 45 Local people's governments at all levels or the departments Article 46 Any functionary in charge of price who divulges state secrets, Article 47 Fee collection by state administrative agencies should be Provisions of relevant laws and administrative regulations apply to Article 48 This Law shall enter into force as of May 1, 1998.
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at or above the county level shall be responsible for the work related to
prices within their respective administrative areas. Other departments
concerned under local people's governments at or above the county level
shall be responsible for the work related to prices concerned within their
respective functions and responsibilities.
Chapter II Price Acts of the Operators
autonomously by the operators in pursuance of this Law for commodity prices
and services prices except those to which government-guided prices and
government-set prices shall apply pursuant to the provisions of Article 18
of this Law.
the principle of fairness, being in conformity with law, honesty and
credibility.
situation shall be the fundamental basis for the determination of prices
by the operators.
of production and management, reduce the cost of production and management,
provide commodities and services for the consumers at reasonable prices and
gain lawful profits in market competition.
conditions, establish and perfect internal price control system, accurately
record and verify the production and management costs of commodities and
services and must not indulge in fraudulent practices.
guided prices;
scope of products of government-guided prices and government-set prices
with the exception of specific products; and
of autonomous determination of prices in accordance with law.
by laws and regulations, and observe the intervention measures and
emergency measures of government-guided prices, government-set prices and
legal prices determined in accordance with law.
providing services, display the clearly marked price in accordance with the
provisions of the competent departments of price of the government, annotate
relevant information such as the name, place of manufacture, specifications,
grade, unit of price calculation and price of a commodity or the services
item and rates.
the marked price and shall not collect any fee not indicated.
acts:
production and management order to the detriment of national interests or
the lawful rights and interests of other operators for the purpose of squeezing out other competitors or of sole occupancy of the
market
in addition to the disposal of such commodities as fresh and living
commodities, seasonal commodities and overstocked commodites at reduced
prices in accordance with law;
prices and pushing up over rise in commodities prices;
by employing falsified or misleading price means;
identical trading conditions in providing identical commodities or services;
raised or reduced in disguised form by adopting such means as raisisng or
lowering the grade;
and regulations; and
regulations.
provisions of this Law in the collection of fees in providing paid-for
services. Where laws have other provisions, the relevant provisions shall
be observed.
import commodities and procuring export commodities.
regulations and strengthen price self-discipline and accept the
guidance in the work by the competent departments of price of the
government.
Chapter III The Government's Pricing Act
government-set prices when necessary for the prices of the following
commodities and services:
for the development of the national economy and people's life;
are rare or short;
governments shall be the basis for the pricing authority and specific
applicable scope of government-guided prices and government-set prices.
competent department of price under the State Council and published upon
approval of the State Council after submission.
of price of people's governments of the provinces, autonomous regions and
municipalities directly under the Central Government in pursuance of the
pricing authority and specific applicable scope provided for in the Central
Pricing Catalog and published upon examination and finalization of the
competent department of price under the State Council after the verification
and approval of the people's governments at the corresponding level.
Government shall not compile pricing catalogs.
concerned under the State Council shall determine the government-guided
prices and government-set prices in pursuance of the pricing authority
and the specific applicable scope provided for in the Central Pricing Catalog;
among which the government-guided prices and government-set prices of the
prices of essential commodities and services shall be submitted to the
State Council for approval in accordance with provisions.
directly under the Central Government shall determine the government-guided
prices and government-set prices for implementation in their respective areas
in pursuance of the pricing authority and specific applicable scope provided
for in Local Pricing Catalogs.
authorization of people's governments of the provinces, autonomous regions
and municipalities directly under the Central Government and in pursuance of the pricing authority and specific applicable scope
provided for in Local
Pricing Catalogs, determine the government-guided prices and government-set
prices for implementation in their respective areas.
set prices shall be based on the average costs of society and market supply
and demand situation of relevant commodities or services, requirements of national economic and social development and tolerance
of society and
difference in prices in procurement and marketing, wholesale and retail,
regions and seasons shall be followed.
of the government shall, in determining the government-guided prices and
government-set prices, conduct price and cost survey and solicit the views
of the consumers, operators and the quarters concerned.
and cost survey of the government-guided prices and government-set prices,
the units concerned shall truthfully report the information and provide
necessary account books, documents as well as other materials.
chairmanship of the competent departments of price of the government to
solicit the views of the consumers, operators and the quarters concerned
to authenticate its necessity and feasibility in determining the government-
guided prices and government-set prices of the prices of public utilities,
prices of nonprofit services and prices of commodities under natural monopoly
management which involve the vital interests of the masses.
upon determination, be released by the department determining the prices to
the consumers and operators.
government-guided prices and government-set prices shall be adjusted at
an appropriate time in the light of the economic performance and in
pursuance of the pricing authority and procedures provided for.
of the government-guided prices and government-set prices.
Chapter IV Regulation and Control of Overall Price Level
an important macro-economic policy goal of the State. The State determines
the regulatory goals of the overall market price level on the basis of the
requirements of the development of the national economy and tolerance of society, integrate them into the national economic and social
development
plan and bring about their realization through comprehensive employment of monetary, fiscal, investment, import-export and other
policies and measures.
system and establish the price regulatory fund to regulate prices and
stabilize the market.
administration, the competent departments of price of the government should
establish the price monitoring system to monitor the change in prices of essential commodities and services.
in procurement when the market purchasing prices of such essential farm
produce as foodgrains and other produce are too low, and adopt corresponding
economic measures to guarantee its realization.
commodities and services or there exists the possibility of a marked rise,
the State Council and people's governments of the provinces, autonomous
regions and municipalities directly under the Central Government may take
such intervention measures as restricting the price differential ratio or
profit ratio, prescribe the restricted price, practise the price rise
submission system and the price adjustment record system with respect to
part of the prices.
municipalities directly under the Central Government shall, in adopting
the intervention measures prescribed in the preceding paragraph, submit
the same to the State Council for the record.
occur in the overall market price level, the State Council may take
emergency measures of temporarily concentrated pricing authority, partial
or comprehensive price freeze nationwide or in parts of the regions.
of the intervention meausres and emergency measures in pursuance of the
provisions of Articles 30 and 31 of this Law, the intervention measures
and emergency measures shall be lifted in time.
Chapter V Price Supervision and Inspection
at or above the county level shall conduct supervision and inspection over
price activities in accordance with law and impose administrative sanctions
against law-breaking acts in price in pursuance of the provisions of this Law.
in conducting price supervision and inspection, exercise the following
powers:
he/she provides testimonial materials and other information relating to
law-breaking acts in price;
documents and other materials relating to law-breaking acts in price, and
check the bank information relating to law-breaking acts in price;
and may order the interested party to suspend the relevant business when
necessary; and
that the evidences may be destroyed and lost or may be difficult to obtain
later, the interested party and the person involved must not transfer,
conceal or destroy the same.
competent departments of price of the government, the operators should
truthfully provide the account books, invoices, vouchers, documents and
other materials necessary for supervision and inspection.
must not use the materials or information obtained in accordance with law
for any purposes other than price control in accordance with law and must
not divulge the business secrets of the interested party.
and other organizations as well as the consumers have the right to conduct
social supervision over price activities. The competent departments of price
of the government should give full play to the supervisory role of the masses
in price.
public opinion.
establish the reporting system of law-breaking acts in price.
in price. The competent departments of price of the government should give
encouragement to the informants and be responsible to keep the secret for
the informants.
Chapter VI Legal Liability
prices, government-set prices and legal price intervention measures and
emergency measures shall be ordered to make a rectification, confisticated
of the illegal gains and may be concurrently imposed a fine of less than
five times of the illegal gains; where there is no illegal gains, a fine
may be imposed; where the circumstances are serious, an order shall be
issued for the suspension of business operations for consolidation.
14 of this Law shall be ordered to make a rectification, confisticated of the illegal gains and may be concurrently imposed a fine
of less than five
times of the illegal gains; where there is no illegal gains, a warning
shall be administered and a fine may be imposed; where the circumstances
are serious, an order shall be issued for the suspension of business
operations for consolidation, or the business license revoked by the
agency of industry and commerce administration. In the case of separate
provisions of relevant laws on penalties and penalty authorities for acts
listed in Article 14 of this Law, the provisions of relevant laws may be
observed.
in nature shall be confirmed by the competent department of price under the
State Council; those of the provinces and below the provinces regional in
nature shall be confirmed by the competent departments of price of people's
governments of the provinces, autonomous regions and municipalities directly
under the Central Government.
more prices for illegal price acts should refund the portion overpaid;
where damage has been caused, liability for compensation shall be borne
according to law.
prices shall be ordered to make a rectification, confisticated of the illegal
gains and may be concurrently imposed a fine of less than RMB 5,000 Yuan.
business operations but does not suspend the operations, or transfers,
conceals and destroys properties registered for safekeeping in accordance
with law shall be imposed a fine of more than 100% less than three times
of the relevant business revenue or of the value of the properties
transferred, concealed or destroyed.
supervision and inspection in accordance with the provisions or provides
false information shall be ordered to make a rectification and administered
a warning; whoever fails to make a rectification on expiry of the specified
time period may be imposed a fine.
concerned of people's governments at all levels that violate the provisions
of this Law, overstep the pricing authority and scope in determining and
adjusting prices without authorization or fail to implement the legal price
intervention measures and emergency measures shall be ordered to make a
rectification and may be criticized in a circular; the person-in-charge
held directly responsible and other persons directly responsible shall be
given administrative sanctions according to law.
business secrets and abuses power, indulges in self-seeking misconducts,
neglects duties, extorts and accepts bribes consituting a crime shall be
investigated of the criminal liability in accordance with law; where a crime
has not been constituted, sanctions shall be imposed according to law.
Chapter VII Supplementary Provisions
effected in accordance with law, items for fee collection put under stringent
control and scope of fee collection and rates restricted. Specific control
measures for fee collection shall be worked out separately by the State
Council.
interest rates, exchange rates, premium rates, and securities and futures
prices, and this Law shall not be applicable thereto.
URL: http://www.asianlii.org/cn/legis/cen/laws/pl79