| After China s accession to the WTO, the Chinese government is paying more and more attention to issues of competition policy and competition law so as to cope with the increasingly fierce domestic and international competition. Currently, China has yet to develop a complete system of antimonopoly norms, an effective mechanism to punish acts of restricting competition by abusing administrative power, and independent and authoritative antimonopoly law enforcement organs. The Draft Antimonopoly Law adopted in February 2002 is defective in many aspects such as provisions on the abuse of market dominant position business merger, administrative monopoly and anti-monopoly organs and procedures. Although faced with many difficulties, the adoption of the Antimonopoly Law will increase the competitiveness of the Chinese enterprises, curb the monopoly power of transnational corporations and improve the financial and macro control by the state. |
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