The draft anti-monopoly law will be submitted to the Standing
Committee of the National People's Congress (NPC), or China's
legislature, for first read at the upcoming legislative
session.
The information was released by the spokesman of the General
Office of the NPC Standing Committee here on Wednesday.
He said according to the agenda proposed by the NPC Standing
Committee chairman and vice-chairpersons meeting, the draft
anti-monopoly law will be discussed at the 22nd session of the 10th
NPC Standing Committee, which will be held from June 24 to 29.
Anti-monopoly law is important in regulating market economy, as
it promotes full and equal competition in market.
In recent years, some overseas companies monopolized and
restricted competition in certain industries in China after merging
some major homegrown companies. The phenomenon severely threatened
China's economic security, so it is necessary to promulgate
anti-monopoly law.
(Xinhua News Agency June 22, 2006)
