According to a report by Beijing Business Today on April 22, major e-commerce platforms, including Pinduoduo, Taobao, Douyin, Kuaishou, and JD.com, are poised to eliminate the “refund only” policy. Under the new approach, merchants will independently handle consumer refund requests made without returning the product after delivery. This shift concludes a four-year period that began in 2021 when Pinduoduo first implemented the policy, with JD.com and Taobao following suit in 2024. The platforms have reportedly engaged in multiple rounds of discussions and revisions with regulatory authorities regarding the policy change, which will be publicly announced upon approval. Early indications of this shift emerged during this year’s National People's Congress session, when national regulatory departments signaled their intention to address issues arising from platforms’ use of the “refund only” rule, which leaves merchants without both the goods and the payment.