China is tightening the management of business brokers with the issuing of a set of regulations on brokerage fee charges.

There have been complaints of administrative interference in fee collections and little or no adequate services offered after fees were received, as well as irregularities in the levying of various charges.

The State Development Planning Commission now mandates that brokers clearly display the types of services they offer and all relevant charges, as well as their code of conduct and procedures in prominent places in their service areas.

The regulations stipulate that brokerages charges should be formulated according to market conditions under the supervision of the government, and that all charges must be approved by relevant governmental departments.

The regulations also mandate that trade associations and social organizations must not collude with brokers for any reason for the purpose of gaining a monopoly or manipulating the market.