China: SAMR fines Zuoyebang and Yuanfudao for unfair and misleading trading practices
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Description
SAMR fines Zuoyebang and Yuanfudao for unfair and misleading trading practices
On 10 May 2021, China's State Administration for Market Regulation (SAMR) has issued fines to the educational technology companies Zuoyebang and Yuanfudao for unfair and misleading trading practices. According to the SAMR, the companies engaged in practices such as false advertising and misleading pricing. Each company was issued the maximum fine of CNY 2.5 million.
Original sourceScope
Policy Area
Competition
Policy Instrument
Unilateral conduct regulation
Regulated Economic Activity
other service provider
Implementation Level
national
Government Branch
executive
Government Body
competition authority