China Handled Over 700,000 Unfair Competition Cases In 24 Years

According to the statistics from State Administration for Industry and Commerce, in the last 24 years, the administrations for industry and commerce across China handled more than 700,000 unfair competition cases involving 43.7 billion Yuan, and confiscated over 10 billion Yuan.

Since the Anti-Unfair Competition Law took effect, the administrations for industry and commerce and market supervision departments gave full play to their functions by investigating unfair competition acts including counterfeiting, infringing trade secrets, business bribery, restricting competition and false advertising. With the development of market economy in China, there appeared new means of competition. Based on the new situation in economic and social development, the new Anti-Unfair Competition Law is aimed at enacting effective regulation measures and serves as the legislative weapon for market supervision departments.