A PYMNTS Company

China Looks To Update Its Competition Laws

By  |  March 7, 2023
China Looks To Update Its Competition Laws

The State Administration for Market Regulation (SAMR), China’s leading market regulator, is actively pursuing revisions to the Anti-Unfair Competition Law in order to create a fair and balanced market ecosystem. This follows the amendments to the Anti-Monopoly Law last year. During a media event at Beijing’s two sessions on Tuesday, Luo Wen – SAMR Head – reiterated their commitment to this objective.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Experts have remarked that the revised law will stay focused on developing an even playing field in prosperous sectors, for instance, platform industries and the digital economy. This is due to the current prevalence of unfair competition within these areas.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Related: China’s Market Regulator Proposed New Competition Rules

    Luo reported that the government is strengthening the associated regulations and guidelines, such as those for declaring concentration of undertakings, to support the implementation of the plans.

    “We strive to make the regulatory rules and law enforcement procedures to be clearer so that companies of all kinds can catch up with each other and improve together on the track of the fair competition,” Luo said.