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China: NPC passes amendments to Anti-Monopoly Law
The State Administration for Market Regulation ('SAMR') announced, on 24 June 2022, that the National People's Congress' Standing Committee adopted amendments to the Anti-Monopoly Law ('the Law'). In particular, the SAMR stated that the amendments introduce and improve the fair competition review system, formulate and implement competition rules that are compatible with the socialist market economy, and establish the anti-monopoly enforcement agency of the State Council which is responsible for the unified enforcement of the Law. Furthermore, the SAMR noted that the amendments are intended to improve a unified, open, competitive, and orderly market system.
The amendments will enter into force on 1 August 2022.
You can read the press release, only available in Chinese, here.
