China unveils rules for fair competition reviews

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A view of the central business district in Beijing, China, May 1, 2024. /CFP

Chinese Premier Li Qiang has signed a State Council decree introducing regulations for fair competition reviews.

From August 1, administrative agencies and organizations legally authorized to manage public affairs must conduct fair competition reviews when formulating laws, rules and policies related to business activities, according to the regulations.

While allocating duties to both central and local government departments, the regulations outline specific standards for fair competition reviews. For instance, relevant content that could restrict market entry or exit, the free flow of goods and business operations should not be contained in new policy measures.

The regulations also stress that the opinions of stakeholders and the public should be taken into account during reviews to safeguard their interests.

In its new development paradigm, China prioritizes the establishment of a unified national market characterized by high efficiency, standardization, openness and fair competition.

The Chinese government has pledged to eliminate regulations and practices that impede a unified market to ensure that all types of enterprises can participate in fair competition and better protect the legitimate rights and interests of all business entities.

Source(s): Xinhua News Agency