19th Oct 2015 07:58
LONDON (Alliance News) - Chinese e-commerce company JQW PLC on Monday said progress has been made on its push to lift the suspension of its operations in China.
In September, the company said it had been fined CNY18,000 and handed penalty of a one-month suspension after it was found to have violated Chinese advertisement law, advertisement management regulations, and laws prohibiting of pyramid selling.
JQW said it has been working with the Administration of Industry and Commerce in China to ensure its websites are fully-compliant with local law to allow the suspension to be lifted. A team from the AIC visited JQW in the past week to review its revised control procedures, and JQW said it expects to receive the results of this inspection very soon.
Once the AIC gives its go-ahead, the company plans to restart its operations.
Shares in JQW were up 0.8% to 6.05 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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