Thursday, August 21, 2008
Posted by D. Daniel Sokol
Xiaoye Wang (Chinese Academy of Social Sciences) provides us with Highlights of China’s New Antimonopoly Law.
ABSTRACT: After more than a decade of discussions, debates, and drafting, China
adopted its Antimonopoly Law on August 30, 2007, and the law took
effect on August 1, 2008.
Like other antirust regimes, the Chinese AML essentially provides the prohibition of monopoly agreements, the prohibition of abuse of a dominant position, and merger control. Additionally, there is also a prohibition of administrative monopoly in chapter 5, since the most serious restrictions to competition in China come from governments themselves.
From the perspective of substantive law, in this article I give a brief overview of the three pillars. In the last section, I discuss the challenges of enforcing the Law.