Chinese lawmakers are reviewing a draft amendment to the Anti-monopoly Law that would improve its safe-harbor rule to further prevent monopolistic acts and protect fair competition.The draft revision was submitted on Tuesday to the Standing Committee of the National People's Congress for the second reading.The first reading version stipulates that businesses with a market share below a certain level will not be subject to the prohibition of monopoly agreements. The current draft further makes clear that businesses should prove that their market share is lower than the standard set by the anti-monopoly law-enforcement agency, while other requirements set by authorities should also be fulfilled.The draft says that anti-monopoly law-enforcement and judicature will be strengthened, while the linkage mechanisms for administrative law-enforcement and judicature will be improved.China will stick to market-oriented and law-based principles, strengthen the fundamental role of competition policies, formulate and implement competition rules compatible with the socialist market economy, improve macro regulation, and improve a unified, open, competitive and orderly market system, according to the draft.Chinese lawmakers are reviewing a draft amendment to the Anti-monopoly Law that would improve its safe-harbor rule to further prevent monopolistic acts and protect fair competition.The draft revision was submitted on Tuesday to the Standing Committee of the National People's Congress for the second reading.The first reading version stipulates that businesses with a market share below a certain level will not be subject to the prohibition of monopoly agreements. The current draft further makes clear that businesses should prove that their market share is lower than the standard set by the anti-monopoly law-enforcement agency, while other requirements set by authorities should also be fulfilled.The draft says that anti-monopoly law-enforcement and judicature will be strengthened, while the linkage mechanisms for administrative law-enforcement and judicature will be improved.China will stick to market-oriented and law-based principles, strengthen the fundamental role of competition policies, formulate and implement competition rules compatible with the socialist market economy, improve macro regulation, and improve a unified, open, competitive and orderly market system, according to the draft.
