Price Law of the People's Republic of China
Price Law of the People's Republic of China
Price Law of the People's Republic of China
Adopted at the 29th Session of the Standing Committee of the Eighth National People's Congress on December 29, 1997 and promulgated by the Order of the President of the People's Republic of China No.92
Contents
Chapter I General Provisions
Chapter II Price Acts of Operators
Chapter III Pricing Acts of the Government
Chapter IV Control over the General Price Level
Chapter V Supervision and Inspection over Prices
Chapter VI Legal Liability
Chapter VII Supplementary Provisions
Chapter I General Provisions
Article 1 In order to standardize the price acts, give play to the role of price in rational resource allocation, stabilize the general level of market price, protect the lawful rights and interests of consumers and operators and promote the sound development of the socialist market economy, the Price Law of the People's Republic of China (hereinafter referred to as the "Law") is formulated.
Article 2 The Law applies to price acts occurring within the territory of the People's Republic of China.
For the purpose of the Law, the price includes commodity prices and service prices.
Commodity prices refer to the prices of various types of tangible products and intangible assets.
Service prices refer to the fees charged for various types of paid services.
Article 3 The State implements and gradually improves the mechanism under which prices are formed mainly by the market under the macro-economic control. The prices shall be set in compliance with the law of value. Prices of most commodities and services shall be market-adjusted prices and prices of a very small number of commodities and services shall be government-guided prices or government-set prices.
The market-adjusted prices refer to the prices set by operators on their own and formed through market competition.
For the purpose of the Law, the operators refer to the legal persons, other organizations and individuals engaging in the production and operation of commodities or providing paid services.
The government-guided prices refer to the prices set by operators under the guidance of the government departments in charge of price or other relevant departments that, in accordance with the provisions of the Law, shall specify the benchmark prices and their floating ranges according to the pricing authority and scope.
The government-set prices refer to the prices set by the government departments in charge of price or other relevant departments in accordance with the provisions of the Law and according to the pricing authority and scope.
Article 4 The State supports and promotes fair, open and lawful market competition, maintains normal price order and exercises administration, supervision and necessary control over price activities.
Article 5 The competent price department under the State Council shall hold unified responsibility for the work related to prices throughout the country. Other relevant departments under the State Council shall, within the scope of their respective duties, be responsible for the relevant work related to prices.
The competent price departments of the local people's governments at the county level or above shall be responsible for the work related to prices within their respective administrative regions. Other relevant departments of the said people's governments shall, within the scope of their respective duties, be responsible for the relevant work related to prices.
Chapter II Price Acts of Operators
Article 6 Commodity prices and service prices, with the exception of those subject to government-guided prices or government-set prices under Article 18 of the Law, shall be subject to market-adjusted prices and fixed by operators on their own in accordance with the Law.
Article 7 Operators shall follow the principles of fairness, lawfulness and good faith in fixing prices.
Article 8 The production and operation cost and the market supply and demand situation constitute the basis for pricing by operators.
Article 9 Operators shall work hard to improve production and operation management, reduce the production and operation cost, provide consumers with commodities and services at reasonable prices, and reap lawful profits through market competition.
Article 10 Operators shall establish and perfect the internal price management system in light of their operational conditions, and accurately record and verify the production and operation cost of commodities and services, in which no fraud and deception is allowed.
Article 11 Operators shall enjoy the following rights in price activities:
1. to fix on their own prices that are regulated by the market;
2. to fix prices within the range stipulated by the government-guided prices;
3.
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