The tobacco authority added that it will establish a “unified national electronic cigarette transaction management platform” that all licensed e-cigarette wholesalers and retailers must sell products through,” while tax collection and payment of e-cigarettes, “shall be implemented in accordance with national taxation laws and regulations.”
Shares in Chinese vape brands drop
Last October, following a local state media report revealing that many minors are still able to purchase e-cigarettes despite the tobacco age limit in place, it was reported that shares in Chinese vape brands dropped.
Huabao International Holdings Ltd (0336.HK) dropped by 8% in morning trade, while China Boton Group Co Ltd (3318.HK) fell 4%, and Relx Technology Inc (RLX.N) closed at almost 5% lower in New York, following the report, said Reuters.
A release by Xinhua news agency said its reporters made surprise visits to vape shops across the northern cities of Tianjin and Shenyang. They found that while all shops had signs in place indicating the stated age limits, the law was not always enforced. Some stores admitted not asking for proof of age, unless the customer was obviously very young,
“E-cigarettes pose a safety hazard to minors, and further efforts should be made to crack down on the sale of e-cigarettes to minors,” said Fu Jia, director of Tianjin Lawyers Association’s professional committee for the protection of minors, as quoted by Xinhua. The report coincided with an increase in interest to protect local youth by Chinese authorities.
Read Further: Reuters
