Politics
22:54, 04-Nov-2017
NPC Standing Committee amends anti-unfair competition law
["china"]
Share
Copied
Chinese lawmakers passed a tougher law against unfair competition on the closing day of their latest session.
The 30th session of the Standing Committee of the National People's Congress approved the amendment to the legislation on Saturday in a move to promote the more orderly development of China's flourishing e-commerce business.
The law, which was enacted in 1993, had fallen well out of date, legislators said, as they sought to rein in malicious competition among online businesses.
"Not only will the online shop owners themselves be punished - but those who help make phony trade records online," said Yang Hongcan, director of China’s Anti-Monopoly and Anti-Unfair Competition Law Enforcement Bureau.
Some are also worried about the use of internet technologies to sway customers' purchasing habits. However, when it comes to this concern, the amendment is comparatively more lenient so as not to stem the growth of innovation in China.
"As for the fair competition on the internet, generally we take a more lenient and inclusive approach," Yang Hongcan said. "We'd strike a balance between the impact of technological development on fair competition in the online market and the cultivation of innovation. Market order and innovation are equally important."
The amendment has also clarified the scope of bribery conduct by defining "the third party that has influence over a transaction," and the fine for violation of the anti-bribery provision could reach RMB 3,000,000 (about 440,000 US dollars) under the new rule.