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National market research watchdog unveiled
(Xinhua)
Updated: 2004-04-09 09:50

The China Market Research Industry Association (CMRIA) was set up in Beijing Thursday to watch over China's market research institutions.

The CMRIA, under the auspices of the National Bureau of Statistics (NBS), will draft rules and regulations and codes of conduct for the nation's market research industry in a bid to supervise the behavior of such institutions and maintain market order, said NBS deputy director Zhu Xiangdong.

"Market research, as a well-developed marketing method in developed countries, enjoys huge room for development in China," said Zhu, also President of the CMRIA.

NBS statistics show that China has registered more than 30,000 market research institutions with a turnover of 3.2 billion yuan (US$387 million) in this industry.

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