China's State Administration for Market Regulation has released four regulations supporting the Anti-Monopoly Law to strengthen the related legal system.
The regulations, which will take effect on April 15, prohibit acts that abuse administrative powers to exclude or restrict competition, reach monopolization agreements, or abuse dominant market positions. The regulations also outline the anti-monopoly review process for concentrations of undertakings.
Based on the Anti-Monopoly Law amended in 2022, the regulations address outstanding problems in administration and law enforcement, and make relevant revisions, improvements and additions, according to the administration.
The regulations optimize oversight and law enforcement procedures, refine relevant provisions of the Anti-Monopoly Law, and strengthen the legal liability of relevant subjects, it said.
Copyright©2023 China Daily. All rights reserved.