PRC Anti-Monopoly Law (“AML”) which was enacted on August 30, 2007 and implemented since August 1, 2008, has been playing increasingly important role in the development and regulation of Chinese economy in last 15 years. On June 24, 2022, the Standing Committee of National People’s Congress issued Decision on Revision of AML which is the first time of revision since the enactment of the law.
Subsequent to multiple attempts in different aspects via issuance of different administrative regulations and circulars by different administrative bodies, the revision focused on a few hot topics, including the “regulation against irregular expansion of capital”, the “regulation against platform based monopoly” etc., aiming to perfect the regulation to prevent monopoly, enhance the implementation of law, provide legal liability for violators and remedies for victims, etc.
