By  on March 14, 2014

SHANGHAI — China’s updated consumer protection laws come into effect on Saturday, World Consumer Rights Day.

It’s the first time consumer protection legislation has been updated in China in more than 20 years, and is widely seen as targeting the country’s booming e-commerce industry. The laws take effect just as China’s central bank moved to further protect online shoppers by halting payments via QR codes and virtual credit cards. Both Alibaba and Tencent had been preparing to roll out virtual credit cards next week.

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