Anti-monopoly Law Amendment Analysis Series (I) – Concentrations Of Undertakings: Enhanced Penalties And Transitional Issues

Introduction

On June 24, 2022, the 13^th NPC Standing Committee adopted an amendment to the Anti-monopoly Law at its 35^th meeting, following the submission of a second deliberation draft on June 21, 2022. The amendment will enter into force on August 1, 2022. This is the first time the Anti-monopoly Law has been amended since its promulgation 15 years ago and is the legislative outcome of a four-year endeavor by China's lawmakers since the revision work was formally planned in 2018 by the Anti-monopoly Commission of the State Council. The amendment improves existing rules and systems related to antitrust matters by considering previous law enforcement practices, international practices, and new realities in domestic markets. It epitomizes China's stance on formulating and implementing competition rules compatible with a socialist market economy and the government's determination to foster a unified, open, competitive, and orderly market system.