China Vows Severe Punishment for Illegally Trading Commodities

China's State Council said authorities will severely punish and publicly shame those found profiting from illegal hoarding and reselling commodities and evade taxes, after a recent audit found such instances that disrupted market order and fair competition, according to a statement on Gov.cn following a Wednesday meeting chaired by Premier Li Keqiang. The cabinet also ordered officials to continue to be frugal and curb spending, carry out tax reductions and job creation policies that support small businesses, the statement read. Authorities should also further improve delivery services in rural regions that facilitate e-commerce and spending, according to the statement.