The completed draft of China's Anti-Monopoly law is now under
revision and deliberation, Li Dongsheng, deputy director general of
the State Administration for Industry and Commerce, said in Beijing
on Tuesday. He was speaking at an international symposium on
competitive policies and legislation.
The Anti-Monopoly Law, once approved, will cover many industries
and sectors of business, and focus on issues like regional
blockades and administrative monopoly, Li added.
According to Li, preparation work on the draft legislation
started in 1994 in an effort to fill the lacuna in
competition-related legislation.
Currently, only the Anti-Unfair Competition Law enacted in 1993
and a few articles of Trademark Law, Advertising Law and Price Law
have some provisions dealing with unfair competition.
To ensure the smooth development of China's market economy,
experts believe that a sound anti-monopoly law is a must.
Monopolistic behavior can be categorized into three: monopoly by
state-owned enterprises with government connections; monopoly by
regional governments in local markets; and market monopoly by
companies.
Official statistics reveal that China's industrial and
commercial authorities have cracked 5,200 monopoly cases in the
last five years in various sectors including water, power and gas
supply, railway, insurance, telecommunications, and postal
services.
(Xinhua News Agency June 29, 2005)