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Ten Things You Should Know About China's New Antitrust Law
On Aug. 30, 2007, China's National People's Congress adopted the Anti-Monopoly Law ('AML'), the first ever comprehensive competition law in the largest emerging market in the world. This was the culmination of 13 years of legislative effort and debate since the first draft of this law was originally conceived. What are the essentials of China's emerging antitrust legal regime? The following are the ten key things that you should know about this area.
One: A Western Style Competition Law with Chinese Characteristics
Similar to the competition law in many other jurisdictions, China's AML primarily addresses issues in three key areas: monopoly agreements, abuse of dominant market position, and merger control. Experts in the international legal and business communities such as the EU Chamber of Commerce and the American Bar Association were invited to submit comments during the drafting and consultation period. As a result, the AML is roughly in line with international competition law standards, and is analogous to the EU model in many aspects.
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