SAMR to Issue Guidelines to Promote Well-regulated and Sound Development of Online Auction

On September 25, 2023, the State Administration for Market Regulation (“SAMR”) released the Guidelines on Promoting the Well-regulated and Sound Development of Online Auction (Exposure Draft) (the “Guidelines”). The draft is open for public comment until October 24, 2023.

Consisting of ten articles, the Guidelines intend to strengthen online auction market access management, institutional supply, industrial model innovation, platform technical innovation, corporate service enhancement, activity supervision and law enforcement, supervision collaboration, platform self-governance, industrial self-discipline, and pilot exploration.