5th anniversary of implementation of China's anti-monopoly law

"China Competition Policy Forum-Competition Policy in Transition" organized by Expert Advisory Board of the State Council Anti-monopoly Commission was held in Beijing on Wednesday.

High ranking officials and noted experts including Wang Chao, General Secretary of the State Council Anti-monopoly Commission and Vice Commerce Minister, Wu Jinglian, economist, researcher of the State Council Development Research Center and Wu Zhuojin, the chief economist of the World Bank attended the forum.

The forum coincides with the 5th anniversary of implementation of China's Anti-monopoly Law, with the theme of review and prospect the implementation of Anti-monopoly law in China.

It summed up the achievements, experience and problems encountered in the implementation of anti-monopoly law in the past 5 years. It also anticipated the future development of the anti-monopoly law in accordance with its current major challenges in China.

Wang Xiaoye, expert in the Advisory Board of the Sate Council Anti-monopoly Commission indicated that China's anti-monopoly law has become the most influential anti-monopoly law worldwide. But every law has its life cycle. At the preliminary stage of implementation, China's anti-monopoly law faced serious challenges such as lack of the efficient supervision on administrative monopoly, inadequate independence of law enforcement and the shortage of law enforcement resource. China needs to continue deepening political and economic reform to ensure effective implementation of anti-monopoly law.

The attendees reached a consensus that with the continuous deepening of reform, as an important driving force to improve the socialist market economy, anti-monopoly law will increasingly manifest its huge social benefits in the future.

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