New Developments and Empirical Evidence
Edited by Michael Faure and Xinzhu Zhang
Chapter 11: Competition law and market integration – a European perspective
After a long laborious drafting process the Chinese Antimonopoly Law(AML) was adopted at the 29th session of the Tenth National People’s Congress on 30 August 2007 and entered into force on 1 August 2008. The law has been enacted to guard against monopolistic conduct, to safeguard and promote the order of market competition, improve economic efficiency, protect consumer and public interests, and to promote the healthy development of the socialist market economy. Its creation constitutes a milestone in China’s movement towards a more market oriented socialist economy. It may be expected that the strengthening of competition will not only lead to increased levels of welfare for the public at large but at the same time work towards a stronger legal and economic integration. The Chinese economy has been showing impressive growth rates for decades. Given the poor macroeconomic outlook in the context of the debt crisis and the financial crisis in large parts of the world economy, it is laudable that the Chinese government has pursued a growth strategy in which domestic growth constitutes an integral part.
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