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China eyes new rules on fair competition reviews to ensure level playing field
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Category：Legislative Updates
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Subject：People and society ; Fair competition
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Source：Xinhua
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Publish Date：06-24-2024
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BEIJING, June 21 -- China will bring regulations for fair competition reviews into force from August 1 to help ensure a level playing field for all market players and build a unified domestic market free from regional protectionist practices, according to the country's top market watchdog.
The regulations aim to prevent authorities from rolling out measures that exclude or restrict market competition, Zhou Zhigao, an official of the State Administration for Market Regulation, told a press conference Friday.
When formulating laws, rules and policies related to business activities, the authorities will be required to conduct such reviews over several aspects, including market entry or exit, the free flow of goods, and business operation costs and practices, Zhou said.
For instance, official policies should not contain unreasonable or discriminatory conditions on market access, or restrict the entry of products from the outside into the local market. Without legal support or the approval of the State Council, authorities are forbidden to grant specific businesses tax breaks or give selective or differentiated incentives or subsidies.
To safeguard the autonomy of business operation, governments are prohibited to illegally interfering with the price levels that should be regulated by the market or exceed its legal authority to set guided prices.
Attaching great importance to fair competition, China has rolled out an array of measures to eliminate market barriers and make sure that all types of capital can have equal opportunities, fair market access, and orderly competition.
A fair competition review system was established in 2016 and the country has stepped up efforts to build a better business environment. Over the past eight years, some 93,000 policies and measures that limit competition have been abolished or revised, and many practices that hinder fair access and restrict free flow of factors have been corrected.
The formation of the new regulations marks a milestone, another official of the administration Xu Xinjian said.
China will be able to build a more solid foundation for the unified domestic market of fair competition, ensure that favorable policies for all business entities will be fairer, and further improve its market-oriented, law-based and internationalized business environment, Xu said.
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