Anti-monopoly law draft submitted
9/3/2005 8:28
The Ministry of Commerce has submitted a draft of an anti-monopoly law
to the State Council, which is expected to transfer it for approval to the top
legislature as soon as possible, said Vice Minister of Commerce Zhang
Zhigang.
"After the legislature passes the law, support regulations may be
enacted to promote the healthy and orderly growth of the economy," Zhang said
yesterday on the sidelines of the annual session of the National People's
Congress.
Zhang said the law has been 10 years in the making.
The
ministry has spent the time engaging in international exchanges, conducting
research and drafting the anti-monopoly law.
The NPC Standing Committee is
scheduled to deliberate the draft anti-monopoly law this year, according to the
committee's lawmaking agenda.
The Fair Trade Bureau under the State
Administration for Industry and Commerce has completed a probe of
anti-competition acts of multinational companies in China. The probe has found
some firms capitalize on their advantageous positions to curb
competition.
According to a report on the probe, the first of its kind ever
conducted by the bureau, multinational firms abuse their advantageous positions
in their investments in China. For instance, Microsoft's operating system
software and Tetra Pac packaging materials each share a 95-percent share of the
Chinese market.
Meanwhile, Eastman Kodak, which has about a 50 percent share
of the country's film market, may gain further control after having purchased a
20-percent stake in Lucky Film Corp, its sole major Chinese
rival.
(Xinhua)
Xinhua
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