China released new rules on Saturday to regulate pricing practices of internet platforms, a move aimed at fostering innovation and promoting the sound development of the platform economy.

The rules, jointly issued by the National Development and Reform Commission, the State Administration for Market Regulation and the Cyberspace Administration of China, aim to regulate pricing behaviour, enhance transparency and strengthen coordination mechanisms to cultivate a robust platform ecosystem.

Under the rules, clearer guidance has been provided on the pricing practices of platform operators and merchants to foster fair competition.

The rules also reinforce protections for merchants' independent pricing rights by explicitly prohibiting platform operators from imposing unreasonable restrictions or attaching unjustified conditions to merchants' pricing decisions.

Furthermore, the rules aim to better protect consumers' legitimate rights and interests by enforcing clear price labeling, promoting transparency in dynamic and differentiated pricing mechanisms, and regulating services such as password-free payments, automatic renewals and unsolicited deductions to safeguard consumers' rights to information and choice.

The rules will take effect on April 10.

Relevant authorities will require major platform operators to conduct self-inspections in line with regulatory standards to ensure proper implementation. (Xinhua)