Beijing, China (August 1, 2008) /ChinaNewswire.com/ — The European Union Chamber of Commerce in China welcomes China's Anti-Monopoly Law (AML), which will take effect from today. The Chamber expects the law and its forthcoming guidelines will contribute towards a legal framework that supports a more open economy and a level playing field for businesses in China.

The AML is an important step forward, bringing China in line with other modern economies' competition systems and ensuring healthy competition in the Chinese market both to the benefit of businesses and consumers.

Joerg Wuttke, President of the European Chamber commented, “Being faced with the first comprehensive set of rules in China, foreign and domestic companies likewise will revise their business strategy to ensure compliance with the new rules. Therefore, we urge Chinese authorities to move quickly towards publishing guidelines based on economic models. The impact of the new law can only be fully assessed once the implementing guidelines are issued and will depend largely on how the implementing authorities will perform their roles.”

The European Chamber members are concerned about the possible overlaps and lack of coordination between the three implementation authorities, which may result in inconsistent implementation. Furthermore, there is still need for clarification on the interpretation of the law with regards to Intellectual Property Rights (IPR). Its current wording leaves room for unfair application of AML provisions against IPR holders. The Chamber hopes that the above uncertainties will be clarified by the implementing guidelines to be issued as soon as possible.

The European Chamber and its members are pleased to have been invited to comment on various drafts of the AML and the draft implementing guidelines. The Chamber also met with State Council and National People's Congress to discuss the comments. The Chamber remains at the ready to support the Chinese government in commitment to develop a legal regime in line with the mainstream global competition policy and tailored to China's needs.

CONTACT INFORMATION

 

  • Grace Yao, Press Officer of the European Chamber
    Phone: +86 10 6462 2066 - 30
    Mobile: +86 1367 1168 084
    E-mail: gyao@euccc.com.cn

[smpr_tags]The European Union Chamber of Commerce, China's Anti-Monopoly Law [/smpr_tags]