Chapter 20: Analysis and comment on China’s Anti-Monopoly Law
On 30 August 2007, the Anti-Monopoly Law of the People's Republic of China (‘Anti-Monopoly Law’) was adopted at the 29th meeting of the Tenth NPC Standing Committee. The promulgation of the Anti-Monopoly Law is a major event both in Chinese legal construction, which is of great significance to the establishment and perfection of the legal system of the Chinese socialist market economy, and in Chinese economic construction, which is a milestone in the reform of the Chinese economic system. Anti-monopoly law is a legal system unique in market economies, marking that the basic means of national resource allocation and economic development is the market mechanism and competition mechanism. Thus, the promulgation of the Chinese Anti-Monopoly Law will strongly declare to the world that China has basically established the socialist market economy mechanism. The Anti-Monopoly Law will be an important influence on national economic life and almost all economic sectors as well as the market behaviours of enterprises and consumers, and is the basic legal system regulating the national economic order and market order. According to Article 57, the Anti-Monopoly Law became effective on 1 August 2008. However, the task of transformation of the Chinese economic system has not been thoroughly completed. Furthermore, the Anti-Monopoly Law itself remains to be perfected, and hence the enforcement of the Chinese Anti-Monopoly Law faces many challenges at the initial stage.
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