A PYMNTS Company

China Aims To Improve Its Antitrust Law

 |  January 31, 2021

China aims to strengthen and improve law enforcement in the anti-monopoly sector as part of efforts to build a market system with high standards, according to Bloomberg.

China “resolutely” opposes monopolies and unfair competition, and the government will step up regulation in newly-emerged sectors such as platform companies and the “sharing economy,” according to the plan jointly released by the general offices of the CPC Central Committee and the State Council.

Authorities will improve rules to identify monopolistic platform companies and regulate consumer data collection and use, according to the plan. The government will also roll out guidelines to help Chinese companies meet antitrust rules overseas.