EU hails China’s Anti-Monopoly Law enforcement

European Union Competition Commissioner Neelie Kroes addressed a letter to China's authorities responsible for the enforcement of its Anti-Monopoly Law to congratulate China on the law's entry into force on August 1, 2008. The letter also expressed the EU's willingness to further cooperate with China in this area.

"The entry into force of the Anti-Monopoly Law today is an important step forward in the development of China's economy. I am delighted that the efforts of the Chinese authorities to push forward this Law have borne fruit," said Ms. Kroes in the letter to the National Development and Reform Commission, the Ministry of Commerce and the State Administration for Industry and Commerce.

Detailed implementation guidelines need to be published. It is expected that these rules will provide more clarity and predictability for companies operating in the Chinese market, noted a press release by the EU.

The Anti-Monopoly Commission that coordinates policy-making among enforcement authorities has been established and the standards for filing acquisition deals have been published.

Since 2003, the EU has cooperated with China regarding competition law, providing technical and capacity-building assistance to Chinese authorities, according to the press release.

The EU "stands ready to strengthen bilateral cooperation in this important area," said the commissioner. It will also strengthen cooperation with both the Anti-Monopoly Commission and Anti-Monopoly Enforcement Agencies.