E-commerce platform operators will face a fine of up to 2 million yuan ($292,731) if they fail to fulfill their duties to protect consumers, according to a new law.

The E-commerce Law was adopted by the national top legislative body, the Standing Committee of the National People's Congress, on Friday afternoon after four rounds of deliberations among national legislators.

The law highlights protection for consumers and aims to improve the development of the e-commerce industry. It also increases liabilities for e-commerce platforms.

For products or services related to the health of consumers, e-commerce platform operators should fulfill their obligations to examine the qualifications of sellers on the platform and protect the safety of consumers, or they will bear responsibilities if any harm is done, according to the law.

Also on Friday, the legislature adopted the Law on Preventing and Controlling Soil Pollution as well as the amendment to the Law on Individual Income Tax.