The new law will also cover companies that send unsolicited faxes, phone calls and text messages.
However Yahoo News reported "manually made cold calls" will still be allowed to aid normal business practise.
The law, expected next year, has been crafted after a consulting period with industry groups and mobile operators.
The legislation will follow imminent anti-spam measures in China.
Elsewhere in the region, the phone numbers of 600 Chinese celebrities were posted online last Saturday. According to the Beijing Daily Star, writers, film directors and actors were inundated with calls following the leak, leading to many changing their numbers.
Earlier this year SC reported the high-profile hacking of Paris Hilton's mobile phone. The resulting online posting of its contents had similar consequences to last-weeks Chinese incident.