The People’s Republic of China is undergoing a very impressive and interesting phase of economic, political and social transformation. Communist thought and ideology is gradually giving way to a new economic approach and thinking, which many people would argue are among the indicators of emerging “capitalism” in the country. Among the key laws and policies being developed in the Republic, competition law and policy occupy central stage. To date, no concrete system of competition law has been fully instituted in China, but such a system is expected to emerge in due course. China needs a rigorous, independent system of competition law in order to protect its economy and consumers and to foster a healthy economic environment in which productivity and enterprise may be encouraged. The Republic is currently in the process of adopting its much-anticipated anti-monopoly law.
This article examines China’s efforts towards adopting a specific competition law and the implications of that. The article first provides a critical analysis of the context in which competition law and policy are being developed in China, focusing on the unique and intricate political and socio-economic landscape of the country (Parts I, II and III). This will be followed by a brief review of the existing legal and regulatory framework of competition in China, highlighting the problems and difficulties within this framework (Part IV). The article will discuss the proposed anti-monopoly law in Part V. The conclusions are offered in Part VI.World Competition