Overview of Competition Policy and Law of China in 2017

Overview of Competition Policy and Law of China in 2017 By MENG Yanbei (Renmin University of China)¹

Competition policy is an important policy system to promote the prosperity and development of market economy. It plays an important role in standardizing market order, maintaining fair competition, encouraging market innovation, promoting system reform, and enhancing market efficiency and social benefits. In 2017, The Chinese government has continuously strengthened the basic position of competition policy in the national policy system. On October 18^th 2017, the Determined in Building a Well-off Society in an all-round way to win the great victory of socialism with Chinese characteristics in the new era–the 19^th National Congress Report pointed out that China should speed up the improvement of the socialist market economic system. The economic system reform must focus on perfecting the and the marketization of the elements, to realize the effective incentive of the property right, the free flow of the elements, the flexible price response, and the fair and orderly competition. The system of negative lists of market access should be comprehensively implemented, various regulations and practices that hinder the unified market and fair competition should be cleaned up and abolished, the reform of the commercial system should be deepened, the administrative monopoly should be broken, the market monopolies should be prevented, the reform of marketization of factor prices sho