Price gouging probe launched into Chongming online veggie trader
Market officials in Chongming do an inspection.
A business in Chongming District is under investigation for selling 5 kilograms of vegetables at 280 yuan (US$43.9), profiteering from the COVID-19 pandemic, according to the district's market regulators.
The vegetable package contained 10 varieties, such as celery, tomato, and cabbage, and the business sold the packages via an online platform.
The business allegedly violated China's pricing law as the price difference of procurement and sales was against relevant regulations, an action allegedly involving price gouging, inspectors said.
Shanghai's market watchdog has tightened supervision and management to crack down on people who are financially exploiting the lockdown, regulators announced earlier.
Businesses found guilty of pricing irregularities face fines of up to 3 million yuan (US$470,713) and termination of their business licenses in serious cases, according to a guideline released earlier.
Residents can report pricing irregularities via the 12345 public-service hotline, or 12315, China's market watchdog's hotline.
