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The legal principles for commodity prices are as follows:

Price Law of the People's Republic of China

< p>(Adopted by the 29th Session of the Standing Committee of the Eighth National People's Congress of the People's Republic of China on December 29, 1997)

Chapter 1 General Provisions

< p>Article 1 This law is formulated in order to regulate price behavior, give full play to the role of price in rational allocation of resources, stabilize the overall level of market prices, protect the legitimate rights and interests of consumers and operators, and promote the healthy development of the socialist market economy.

Article 2 This Law shall apply to price actions that occur within the territory of the People’s Republic of China.

The price mentioned in this Law includes the price of goods and the price of services.

Commodity prices refer to the prices of various tangible products and intangible assets.

Service prices refer to the charges for various paid services.

Article 3 The state implements and gradually improves the mechanism for price formation mainly by the market under macroeconomic control. Prices should be set in line with the law of value. Most goods and services are subject to market-regulated prices, while a very small number of goods and services are subject to government-guided prices or government-set prices.

Market-regulated prices refer to prices independently determined by operators and formed through market competition.

Operators as mentioned in this Law refer to legal persons, other organizations and individuals engaged in the production and operation of goods or the provision of paid services.

Government-guided price refers to the price set by the government price department or other relevant departments in accordance with the provisions of this Law, and in accordance with the pricing authority and scope, stipulates the benchmark price and its fluctuation range, and guides the operators to set the price.

Government pricing refers to the price set by the government price department or other relevant departments in accordance with the pricing authority and scope in accordance with the provisions of this Law.

Article 4 The state supports and promotes fair, open and legal market competition, maintains normal price order, and implements management, supervision and necessary regulation of price activities.

Article 5 The price department of the State Council is responsible for unified price work nationwide. Other relevant departments of the State Council are responsible for relevant price work within the scope of their respective responsibilities.

The price departments of local people's governments at or above the county level are responsible for price work within their respective administrative regions. Other relevant departments of the local people's governments at or above the county level are responsible for relevant price work within their respective scope of duties.

Chapter 2 Price Behavior of Operators

Article 6 Commodity prices and service prices, except for government-guided prices or government-fixed prices in accordance with Article 18 of this Law, shall be implemented Market-adjusted prices shall be independently determined by operators in accordance with this Law.

Article 7 Operators shall follow the principles of fairness, legality and good faith when setting prices.

Article 8 The basic basis for operators’ pricing is production and operation costs and market supply and demand conditions.

Article 9 Operators shall strive to improve production and operation management, reduce production and operation costs, provide consumers with reasonably priced goods and services, and obtain legitimate profits in market competition.

Article 10 Operators shall establish and improve internal price management systems based on their operating conditions, accurately record and verify the production and operation costs of goods and services, and shall not engage in fraud.

Article 11 Operators shall enjoy the following rights when conducting price activities:

(1) Independently set prices subject to market regulation;

(2) In Set prices within the range specified by the government's guide price;

(3) Set trial sales prices for new products within the scope of government guide prices and government-priced products, except for specific products;

( 4) Report and accuse behaviors that infringe on their right to independent pricing in accordance with the law.

Article 12 When conducting price activities, operators shall abide by laws and regulations, and implement government guidance prices, government pricing and statutory price intervention measures and emergency measures formulated in accordance with the law.

Article 13 When operators sell or purchase goods and provide services, they shall clearly mark the prices in accordance with the regulations of the government’s price department, indicating the product name, origin, specifications, grade, pricing unit, price or service. Projects, charging standards and other relevant information.

Operators are not allowed to sell goods at an additional price in addition to the marked price, and are not allowed to charge any unmarked fees.

Article 14 Operators shall not engage in the following unfair pricing practices:

(1) Collusion with each other to manipulate market prices and damage the legitimate rights and interests of other operators or consumers;< /p>

(2) In addition to reducing prices of fresh commodities, seasonal commodities, overstocked commodities and other commodities in accordance with the law, in order to squeeze out competitors or monopolize the market, dumping at prices lower than cost and disrupting the normal order of production and operation, Damaging national interests or the legitimate rights and interests of other operators;

(3) Fabricating and disseminating price increase information, driving up prices, and promoting excessive increases in commodity prices;

(4) Using False or misleading pricing methods to induce consumers or other operators to conduct transactions with them;

(5) Providing the same goods or services and engaging in price discrimination against other operators with equal trading conditions;

(6) Purchasing and selling goods or providing services by raising or lowering the grade, thereby raising or lowering prices in disguised form;

(7) Violating the provisions of laws and regulations for profit Huge profits;

(8) Other unfair pricing practices prohibited by laws and administrative regulations.

Article 15 All types of intermediary agencies shall comply with the provisions of this Law when providing paid services and collecting fees. If the law provides otherwise, the relevant provisions shall apply.

Article 16 Operators selling imported commodities and purchasing export commodities shall abide by the relevant provisions of this chapter and maintain domestic market order.

Article 17 Industry organizations shall abide by price laws and regulations, strengthen price self-discipline, and accept the work guidance of the government’s price authorities.

Chapter 3: Government Pricing Behavior

Article 18: For the prices of the following goods and services, the government may implement government-guided prices or government-set prices when necessary:

(1) The prices of a very small number of commodities that are closely related to the development of the national economy and people’s lives;

(2) The prices of a few commodities with scarce resources;

(3) Natural monopoly operations Commodity prices;

(4) Important public utility prices;

(5) Important public welfare service prices.

Article 19 The pricing authority and specific scope of application of government-guided prices and government pricing shall be based on the central and local pricing catalogs.

The central pricing catalog is formulated and revised by the price department of the State Council, and is published after being submitted to the State Council for approval.

Local pricing catalogs are formulated by the price authorities of the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government in accordance with the pricing authority and specific scope of application stipulated in the central pricing catalog. After review and approval by the people's governments at the same level, they are reported to the price authorities of the State Council for review and approval. announced.

Local people's governments at all levels below the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government shall not formulate pricing catalogs.

Article 20 The price department of the State Council and other relevant departments shall formulate government guidance prices and government pricing in accordance with the pricing authority and specific scope of application stipulated in the central pricing catalog; among them, the government guidance on important commodity and service prices Prices and government pricing must be approved by the State Council in accordance with regulations.

The price departments and other relevant departments of the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government shall formulate government-guided prices and government pricing to be implemented in the local area in accordance with the pricing authority and specific scope of application stipulated in the local pricing catalog.

The municipal and county people's governments may, under the authorization of the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government, formulate government-guided prices and government pricing to be implemented in their respective regions in accordance with the pricing authority and specific scope of application stipulated in the local pricing catalog.

Article 21 When formulating government-guided prices and government pricing, reasonable purchase and sales shall be implemented based on the average social cost of relevant goods or services, market supply and demand conditions, national economic and social development requirements, and social affordability. Price difference, wholesale and retail price difference, regional price difference and seasonal price difference.

Article 22 When the government price department and other relevant departments formulate government guidance prices and government pricing, they shall conduct price and cost surveys and listen to the opinions of consumers, operators and relevant parties.

When the government price department conducts an investigation into government-guided prices, government-set prices, and costs, relevant units should truthfully report the situation and provide necessary account books, documents, and other information.

Article 23 When formulating government-guided prices and government pricing, such as public utility prices, public welfare service prices, and commodity prices operated by natural monopolies, which are related to the vital interests of the masses, a hearing system shall be established, and the government price shall be determined by the government. The competent department shall preside over, solicit opinions from consumers, operators and relevant parties, and demonstrate its necessity and feasibility.

Article 24: After the government-guided prices and government pricing are established, the departments that set the prices shall announce them to consumers and operators.

Article 25 The specific scope of application and price levels of government-guided prices and government pricing shall be adjusted in a timely manner according to the economic operation conditions and in accordance with the prescribed pricing authority and procedures.

Consumers and operators can make suggestions for adjustments to government guidance prices and government pricing.

Chapter 4 Regulation of the General Price Level

Article 26 Stabilizing the general level of market prices is an important macroeconomic policy goal of the country.

Based on the needs of national economic development and social affordability, the state determines the overall market price level regulation target, includes it in the national economic and social development plan, and comprehensively uses policies and measures in monetary, fiscal, investment, import and export, etc. to achieve it.

Article 27 The government may establish a reserve system for important commodities and set up a price adjustment fund to regulate prices and stabilize the market.

Article 28 In order to meet the needs of price regulation and management, the government price department shall establish a price monitoring system to monitor changes in the prices of important commodities and services.

Article 29: When the market purchase price of important agricultural products such as grain is too low, the government may implement price protection in the purchase and take corresponding economic measures to ensure its realization.

Article 30: When the prices of important commodities and services rise significantly or are likely to rise significantly, the State Council and the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government may impose price limits or profit margins on some prices, stipulate price limits, Implement intervention measures such as a price increase declaration system and a price adjustment filing system.

The people's governments of provinces, autonomous regions, and municipalities directly under the Central Government shall report to the State Council for record when they adopt the intervention measures specified in the preceding paragraph.

Article 31 When the overall level of market prices fluctuates violently or other abnormal conditions, the State Council may take emergency measures to temporarily centralize pricing authority or freeze prices partially or completely nationwide or in some regions.

Article 32: After the circumstances under which intervention measures and emergency measures are implemented in accordance with the provisions of Articles 30 and 31 of this Law are eliminated, the intervention measures and emergency measures shall be lifted in a timely manner.

Chapter 5 Price Supervision and Inspection

Article 33 The price departments of the people’s governments at or above the county level shall supervise and inspect price activities in accordance with the law and in accordance with the provisions of this law Implement administrative penalties for price violations.

Article 34 When conducting price supervision and inspection, the government price department may exercise the following powers:

(1) Question the parties or relevant persons and require them to provide supporting materials and Other information related to price violations;

(2) Inquire and copy account books, receipts, vouchers, documents and other materials related to price violations, and check bank information related to price violations;

(3) Inspect property related to price violations, and if necessary, order the parties concerned to suspend relevant business;

(4) When the evidence may be lost or difficult to obtain in the future, It can be registered and preserved in accordance with the law, and the parties or relevant persons are not allowed to transfer, conceal or destroy it.

Article 35 When operators accept supervision and inspection from the government’s price supervision department, they shall truthfully provide the account books, documents, vouchers, documents and other materials necessary for price supervision and inspection.

Article 36 Price staff of government departments shall not use information obtained in accordance with the law or information learned for any purpose other than price management in accordance with the law, and shall not disclose the commercial secrets of the parties involved.

Article 37 Consumer organizations, employee price supervision organizations, residents' committees, village committees and other organizations, as well as consumers, have the right to conduct social supervision of price behavior. Government price authorities should give full play to the price supervision role of the masses.

News units have the right to conduct public opinion supervision on prices.

Article 38: Government price authorities shall establish a reporting system for price violations.

Any unit or individual has the right to report price violations. Government price authorities should encourage whistleblowers and be responsible for keeping whistleblowers confidential.

Chapter 6 Legal Responsibilities

Article 39 If an operator fails to implement government-guided prices, government pricing, and statutory price intervention measures and emergency measures, it shall be ordered to make corrections and illegal goods shall be confiscated. If there is no illegal income, a fine may be imposed; if the circumstances are serious, the company may be ordered to suspend business for rectification.

Article 40 If an operator commits any of the acts listed in Article 14 of this Law, he shall be ordered to make corrections, his illegal gains shall be confiscated, and he may also be fined not more than five times the illegal gains; if there is no illegal gains, A warning may be issued and a fine may be imposed; if the circumstances are serious, the business shall be ordered to suspend business for rectification, or the business license shall be revoked by the industrial and commercial administration authorities. If the relevant laws have other provisions on the penalties and punishment authorities for the acts listed in Article 14 of this Law, they may be implemented in accordance with the provisions of the relevant laws.

If any of the acts listed in Items (1) and (2) of Article 14 of this Law is nationwide, it shall be determined by the price department of the State Council; if it is provincial or sub-provincial regional shall be determined by the price department of the people's government of the province, autonomous region, or municipality directly under the Central Government.

Article 41 If an operator causes consumers or other operators to overpay due to price violations, the overpaid portion shall be refunded; if damage is caused, the operator shall bear liability for compensation in accordance with the law.

Article 42 If an operator violates the clearly stated price regulations, he shall be ordered to make corrections, his illegal gains shall be confiscated, and he may be fined not more than 5,000 yuan.

Article 43 If an operator fails to suspend relevant business after being ordered to suspend it, or transfers, conceals, or destroys property registered and preserved in accordance with the law, the relevant business income or the value of the transferred, concealed, or destroyed property shall be punished. A fine of not less than one time but not more than three times.

Article 44 Anyone who refuses to provide information required for supervision and inspection in accordance with regulations or provides false information shall be ordered to make corrections and given a warning; if corrections are made within the time limit, a fine may be imposed.

Article 45: Local people's governments at all levels or relevant departments of people's governments at all levels violate the provisions of this Law, exceed the pricing authority and scope without authorization, formulate and adjust prices, or fail to implement statutory price intervention measures and emergency measures. If found, they will be ordered to make corrections and may be notified of criticism; the directly responsible person in charge and other directly responsible personnel will be given administrative sanctions in accordance with the law.

Article 46 If a price employee leaks state secrets or commercial secrets, abuses his power, engages in malpractice for personal gain, neglects his duties, solicits or accepts bribes, which constitutes a crime, he shall be investigated for criminal responsibility in accordance with the law; if it does not constitute a crime, he shall be investigated for criminal responsibility in accordance with the law. Give sanctions.

Chapter 7 Supplementary Provisions

Article 47: Charges collected by state administrative agencies shall be carried out in accordance with the law, with strict control over charging items and limiting the scope and standards of charging. Specific management measures for fees shall be formulated separately by the State Council.

Interest rates, exchange rates, insurance rates, securities and futures prices shall be governed by relevant laws and administrative regulations, and this Law shall not apply.

Article 48 This Law shall come into effect on May 1, 1998.

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