Chinese authorities have cracked down on price-gouging vendors who have been charging up to six times the regular amount for protective masks as the country deals with the coronavirus outbreak.Boxes of the masks have gone for as much as $181, when they regularly retail for around $30One store in the Chinese capital will be fined 3 million yuan for hiking the price of masks by almost six times the online rate amid the virus outbreak, the Beijing municipal market regulator said on Wednesday.
The store raised the price of a box of 3M-brand masks to 850 yuan while the online price was just 143 yuan , state television said. In the commercial capital of Shanghai, the municipal market regulator has also ordered the closure of a drug store that sold sub-standard masks, according to the city government.
But farmers selling hay bales at higher than usual prices because of the drought is just, market forces?
No one loves money more than the Chinese
Typical Chinese move. They take your money and never deliver the product.
Price gouging is a good thing.
I thought for a second the ACCC grew a set but then read “Chinese authorities have cracked down”. As you were Australia 🇦🇺
Money over life. Disgusting behaviour
Not to be trusted. Never have been. Sad but true, but they'd scam their grandmother for cash. jmo (not racist, just observant)
And they dont even have an ACCC. Never happen here.
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