Steps announced to curb monopolies
2021 is a big year for China to counter monopolies, and authorities have taken a series of measures to regulate enterprises' market behaviors for fair play.
China's State Council issued antitrust guidelines on the country's platform economy, addressing economic and social activities facilitated by platforms, on Feb 7, signaling strengthened antitrust enforcement against monopolistic behaviors in the country's internet platform sector.
The country's draft amendment to the Anti-Monopoly Law was submitted on Oct 19 to the National People's Congress Standing Committee, the top legislature, for review. China's national anti-monopoly bureau was inaugurated in Beijing on Nov 18, which aims to strengthen anti-monopoly supervision in the country.
China has made great efforts to ensure market players have a good business environment for fair competition and ensure market entities' rights are well protected by providing policy and institutional supports.