China's Anti-Monopoly Law

On August 30, 2007, the Standing Committee of the 10th National People's Congress adopted the Anti-Monopoly Law of the People's Republic of China. The AML will become effective on August 1, 2008, to guard against monopolistic conduct, safeguard competition, improve economic efficiency, protect public and consumer interests, and promote the healthy development of the socialist market economy. After 13 years of debate, the final adoption of the AML marks an important step toward an effective competition regime in China's move toward a market economy. The AML's main outline is similar to competition laws in other countries because the drafting committee conducted extensive studies of foreign laws and had many discussions with foreign experts, but it also maintains some "Chinese-specific" provisions.

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