Cyber Driver.docVIP

Cyber Driver 　　China has become the largest e-commerce market in the world. According to market research firm iResearch Consulting， China’s e-commerce trade volume eclipsed 20 trillion yuan （$2.88 trillion） in 2015， with online retail sales totaling 3.88 trillion yuan （$558.27 billion）. The average annual growth rate of e-commerce was more than 30 percent during the 12th FiveYear Plan （2011-15） period. 　　The fast growth has also created new challenges and opportunities that were not foreseen by the existing laws. So to fill the gap， the National People’s Congress （NPC）， the national legislature， turned its attention to drafting an e-commerce law in 2013. After three years of preparation， the NPC’s Financial and Economic Affairs Committee came up with a draft of China’s first e-commerce law in 2016. 　　At the 25th session of the 12th NPC Standing Committee， held on December 19-25， 2016， the draft was submitted for its first reading and two days later， was put on the NPC website to solicit public opinion. 　　According to Lu Zushan， Vice Chairman of the Financial and Economic Affairs Committee， the main purpose of the law is to develop e-commerce， regulate the market and protect the legitimate rights and interests of major parties involved in e-commerce. 　　The draft details the duties and obligations of third-party platforms， stipulates the utilization and protection of e-commerce data and information， and regulates electronic contracts， payments and logistical services. 　　Both online and offline commercial activities would be put on an equal footing. All e-commerce operators will have to pay their taxes and acquire business certificates. 　　“The e-commerce law is going to play an important role in protecting consumers as well as creating a healthy and fair market environment，” Lu told lawmakers. 　　The draft has been welcomed by many experts. Xue Jun， Vice Dean of Peking University’s Law School， said e-commerce enterprises have to obey the law and regulations