China's top legislators on Friday passed an e-commerce law aimed at improving regulation over the flourishing market.

It was adopted after a fourth reading at the bimonthly session of the Standing Committee of the National People's Congress that ended Friday.

The law, which is set to "protect legal rights and interests of all parties" and "maintain the market order," requires all e-commerce operators to fulfill their obligations to protect consumers' rights and interests as well as personal information, intellectual property rights, cyberspace security and the environment.

The law will take effect on Jan. 1, 2019.