Chinese E-Commerce Platforms to End Refund-Without-Returns: Rtrs

Chinese authorities asked e-commerce platforms to stop insisting merchants provide refunds without return of the products, Reuters reports, citing two people familiar with the matter.

• Says the move is to help with financial pressure
• Officials met with platforms including PDD Holdings and concluded the practice must end by July
  • After that, only the merchant may initiate a refund
• PDD and JD.com declined to comment to Reuters
  • Alibaba Group and China’s State Administration for Market Regulation did not respond to Reuters’ requests for comment

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