BEIJING: A pharmacy in Beijing will receive a fine of 3 million yuan ($ 434,530) for raising the price of masks almost six times the price online in the middle of the coronavirus outbreak, the Beijing municipal market regulator said Wednesday.
The regulator issued an administrative sanction notice to Beijing Jimin Kangtai Pharmacy for dramatically increasing the price of N95 masks, it said in a statement on its website.
Jimin Kangtai increased the price of 3M brand masks to 850 yuan per box, while the price of the same type of masks sold online was 143 yuan per box, state television said.
The Beijing municipal regulator has intensified the monitoring of the prices of epidemic protection equipment and has punished illegal activities such as hoarding or manufacturing information on price increases. He has investigated 31 cases of price violations since January 23, he said.
The coronavirus outbreak, which began in the central city of Wuhan at the end of last year, killed 132 people and infected nearly 6,000 in China.