On June 24, 2022, at the 35th meeting of the Standing Committee of the 13th National People's Congress, the amendment to the Anti-monopoly Law of the People's Republic of China was passed. It was decided to go into effect on August 1st. This is the first amendment to China's Anti-monopoly Law since its implementation in 2008. A new purpose was proposed in maintaining an orderly market system. This amendment adds innovation encouragement to the legislative purpose of the Anti-monopoly Law, in line with Xi Jinping's leadership's keynote on state affairs, which has emphasized technological innovation. It is specified in this law that it is responsible. In the 2018 central organizational reorganization, the newly established State Administration for Market Regulation, the Anti-monopoly Bureau, which was in charge of anti-monopoly work that had been distributed among the Ministry of Commerce, Development and Development, and the General Administration of Industry and Trade, was separated into a vice-ministerial level organization and upgraded to the State Anti-monopoly Bureau. The amendment bans monopoly, exclusion, and competition restrictions that abuse administrative power, and strengthens the level of punishment, such as significantly increasing the level of fines and linking antitrust penalties with credit records. Clarify the criteria for screening and classifying managers to strengthen screening of managers related to the national economy and livelihood, while introducing a safe harbor rule to exclude managers from sanctions if they prove that their market share is lower than the anti-monopoly standards made with In addition, managers who provide “substantial help” in concluding and implementing monopoly agreements are also subject to sanctions. The amendment is a review of China's anti-monopoly law enforcement over the past 10 years during the deliberation of the revision of the Chinese anti-monopoly law, and can be seen as a summary of legal practice experience. This is a demand inherent in the development of China's socialist market economy, and can help meet the objective demand of the new development pattern. It is conducive to introducing Chinese anti-monopoly law supervision and strengthening anti-monopoly law enforcement, which will be scientifically and objectively conducive.
Read full abstract