Authored by: Ning Xuanfeng (Susan) , Chai Zhifeng , Zhang Ruohan , Wu Weimin , Zhang Xian and Zhang Yinglun
Since the implementation of China’s first Anti-Monopoly Law (“AML (2008)” or “Old AML”) in August 2008, it has played a very important role in protecting fair competition, improving the efficiency of economic operation, safeguarding the interests of consumers and the public interest, and promoting high-quality development. However, in the midst of unprecedented changes in the Chinese economy and foreign political and economic, some provisions of the AML (2008) are no longer well adapted to the present and future needs. In this context, the legislature formally adopted the first amendment to Anti-Monopoly Law of the People’s Republic of China (“AML (2022)” or “New AML”) on June 24, 2022 after taking into account opinions from judicial authorities, administrative departments, business circles, academia and lawyers. The New AML will come into effect on August 1, 2022.