The Beijing municipal market regulator said on Wednesday that a drug store in China’s capital Beijing will be fined 3 million Chinese Yuan –which is equal to $434,530—for increasing the price of the face masks.
According to the details, the drug store increased the price of the face masks by almost six times the online price amid the outbreak of the SARS-like deadly virus in China.
According to the statement issued by the regulator on its website, it has issued a notice of the administrative penalty to Beijing Jimin Kangtai Pharmacy for suddenly increasing the price of N95 masks.
The state television said in a statement that the drug store in Beijing—Jimin Kangtai raised the price of 3M brand face masks to 850 Chinese Yuan per box, while the price of the same type of face masks sold online was 143 Chines Yuan per box.
The Beijing municipal regulator has started supervision on prices of epidemic protective equipment and punished illegal activities such as hoarding or fabricating information about price hikes. As per the details, it has investigated 31 cases of price violation since Jan. 23.
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It is worth mentioning here that the coronavirus outbreak, which started in China’s central city of Wuhan, has claimed the lives of as many as 132 people so far and infected more than 6,000 people in China only.
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The virus also affecting the business activities in China
Deaths have been increasing on daily basis due to Coronavirus Outbreak in China, the total number of deaths rose to 81 on Monday the local media has reported, businesses shut down and holiday extends due to the deadly spread of the virus.
The names of the countries in which Coronavirus cases reported
It is worth mentioning here that other than China, the cases of coronavirus have also been surfaced in Singapore, Japan, Thailand, South Korea, Taiwan, Vietnam, and the US.