Calls for single anti-monopoly agency
Updated: 2007-12-14 09:59
However, experts have also said that China has accumulated experience in anti-monopoly law enforcement with the Anti-Unfair Competition Law, which has been in effect since 1993.
Figures show that industry and commerce authorities at all levels have investigated about 7,000 cases of possible monopolies, involving companies in the water, electricity, gas, postal service, banking and tobacco sectors.
Hassan Qaqaya, head of the Competition Law and Consumer Policy Branch of the United Nations Conference on Trade and Development, said: "The Anti-Monopoly Law is a great development and will help the Chinese economy adjust to current situations and benefit from globalization and trade."
He said the challenges for China are mainly to do with the level of implementation.
Meanwhile, foreign acquisitions of Chinese companies will also be subject to stringent new checks intended to protect national economic security.
"China will balance its situation with World Trade Organization requirements while implementing the law," Zhong Youping, vice-minister of the State Administration for Industry and Commerce, said yesterday.
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