MOC promises zero-tolerance on commercial frauds

The Ministry of Commerce made its determination for combating frauds in business operation clear recently in a videoconference recently.

Zhang Zhigang, Vice Commerce Minister, vowed to crack down irregularities in foreign trade which wangle either qualification for registration with false documentation or capital with faked contracts.

He warned against exaggerated or artificial information on overseas projects, labor export and investment. Operation without qualification required or beyond the entitled business scope will also face punishment.

The campaign also targets at retailers' bad faith in promotions and honoring their contracts with suppliers. Supervision over the service sector will be intensified. Fake and shoddy products used in beauty salons have aroused special concern.

Zhang vowed to stop tricks of incomplete and irregular information disclosure, as well as fabricated or hyped brands, in franchising business.

The Ministry of Commerce also advocates the concept of "boosting business with honesty" around the commercial circle. A sweeping campaign to promote this idea around the country will be staged in September this year.

Zhang urged to build a perfect legal and administration system to slam frauds on one hand and information exchanges on the other between administrations, enforcement departments and industrial management.

He required that enterprises whose bad behaviors caused malignant social influence be blacklisted .

By People's Daily Online