Fund aims to safeguard consumer rights

A new fund that rewards honest business dealings is being launched tomorrow in Beijing as part of International Consumer's Day.

It has been set up by Chaoyang District's General Chamber of Commerce (GCC) and the Consumer Rights Protection Association.

Chengwaicheng, a furniture mall on the outskirts of Beijing, has donated 1 million yuan (US$125,000) to the fund.

Chaoyang District government will also input 100,000 yuan (US$12,500) each year to the plan.

"Any enterprise or individual promoting a credible business environment can benefit from the fund," said Li Guibao, deputy director of Chaoyang GCC.

A detailed commercial credit database will record and monitor enterprises in the district as part of the initiative, which will be used to assist the allocation of awards from the fund.

"We need support from both the consumers and the government to pave the way for the operation of the database system," he added.

Files consisting of each enterprise's current business status, trade details and records with banks, suppliers and consumers are a must for the database system, said Lu Xiang, deputy director of Chaoyang District Industrial and Commercial Bureau.

"The data should be updated with the latest developments of the enterprise," Lu said.

The plan aims to make more enterprises realize the benefits of transparent and honest trading.

Rising complaints by consumers about so-called "special offers" and "high discounts" in stores will also be targeted by the monitoring system, according to Ma Changshan, from the Chaoyang District Consumer Rights Protection Association.

Chaoyang District, which hosts the capital's central business district, is home to more than half of the city's retail giants.

Beijing Ito Yokado, Beijing Lufthansa Shopping Center, Beijing Blue Island Tower and Beijing Scitech Shopping Center and other shopping malls have all been encouraged to contribute to the fund and be part of the credit database.

Everyday consumers and social celebrities are all set to be invited to be special supervisors of the fund and database.

"This is all good news for consumers," said Qiao Zhanxiang, a lawyer of Beijing Jintai Lawyer Agency.

He said that by offering donations and joining the database, enterprises would be seen in a good light.

The Chaoyang Commerce Bureau and the Industrial and Commercial Bureau are also members of the fund's administration office.

Source: China Daily