The Credit Evaluation Center of the China E-commerce Association has released a new rule in Beijing to regulate the credit system of China's e-commerce market.
The new rule is called the "Chinese Enterprise E-commerce Credibility Basic Regulation" and is the first of its kind in China.
Li Jiangyu, one of the drafters of the regulation, says that the regulation covers enterprise authentication and validity, protection of users' personal data and enterprises' online business behaviors.
Li says that China E-commerce Association will alter the regulation in the future in accordance with the development of the China's e-commerce market.
China's e-commerce transaction volume exceeded CNY600 billion by the end of 2005.