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)
