China Implements New Measures to Promote Fair Market Competition
China has introduced measures to enhance fair market competition, set to take effect on April 20. The 48-article regulations detail review requirements and departmental responsibilities to prevent local protectionism. New initiatives are planned to improve review capabilities and eliminate practices that hinder market unity.
China has announced new measures aimed at enhancing fair market competition by implementing its fair competition review regulations. These measures, consisting of 48 articles and set to take effect on April 20, outline specific requirements for reviews, establish departmental responsibilities, and detail procedures and supervisory mechanisms, as stated by the State Administration for Market Regulation.
These regulations, initially enacted last year, are designed to prevent local authorities from enacting policies that could limit or exclude competition in the market. They mandate that any new laws, rules, and policies affecting business activities undergo reviews focusing on factors such as market access, the cost of doing business, and the flow of goods.
Additionally, the administration announced new initiatives intended to strengthen its fair competition review capabilities. These initiatives aim to eliminate regional protectionist practices and ensure the establishment of a cohesive national market reflecting fair competition principles.
The introduction of these new measures reflects China’s commitment to fair market practices. By mandating rigorous reviews of laws and policies impacting competition, the government seeks to foster a unified national market. Strengthening review capabilities will help combat regional protectionism, ultimately promoting a more equitable business environment.
Original Source: www.shanghaidaily.com
Post Comment