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On August 30 2007,after more than a decade of legislative efforts,the Standing Commit- tee of the National People’s Congress (NPC),China’s top legislature,completed its third official reading of the draft Anti-monopoly Law (AML) and formally adopted it as the country’s first comprehensive competition law.The Anti-monopoly Law will become effective on 1 August 2008,to guard against monopolistic conduct,safeguard competition,improve eco- nomic efficiency,protect public and consumer interests,and promote the healthy development of the socialist market economy.After 13 years of debate,the final adoption of the AML marks an important step toward an effective competition regime in China’s move toward a market econo- my.This article introduces the history of China’s Anti-monopoly Law,summarizes some of its key provisions,highlights some of the major improvements on the June 2007 draft,and discusses the major implications for foreign companies doing business in China.
On August 30 2007, after more than a decade of legislative efforts, the Standing Commit- tee of the National People’s Congress (NPC), China’s top legislature, completed its third official reading of the draft Anti-monopoly Law (AML) and formally it as the country’s first comprehensive competition law. The Anti-monopoly Law will become effective on 1 August 2008, to guard against monopolistic conduct, safeguard competition, improve eco- nomic efficiency, protect public and consumer interests, and promote the healthy development of the socialist market economy. After 13 years of debate, the final adoption of the AML marks an important step toward an effective competition regime in China’s move toward a market econo- my. This article introduces the history of China’s Anti-monopoly Law, summarizes some of its key provisions, highlights some of the major improvements on the June 2007 draft, and discusses the major implications for foreign companies doing business in China.