The Chinese National People’s Congress passes the amendment to the Anti-Monopoly Law

When its Anti-Monopoly Law (“AML”) went into effect in August 2008, China immediately became a significant antitrust enforcer on the world stage. On June 24, 2022, the National People’s Congress, China’s top legislature, passed the Amendment to the Anti-Monopoly Law of the PRC (the “Amendment”), the first significant changes to the AML in nearly fourteen years. The Amendment, which was signed into law by President Xi Jinping and published on June 24, will become effective on August 1. It marks a major milestone in antitrust enforcement in China. The more significant aspects of the Amendment include: significantly enhanced penalties for AML violations, including the introduction of fines for individuals; the introduction of a discretionary “stop-the-clock” mechanism for merger reviews; the

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  • Covington & Burling (Washington)
  • Covington & Burling (Washington)

Quotation

Jim O'Connell, Alexander Wang, The Chinese National People’s Congress passes the amendment to the Anti-Monopoly Law, 24 June 2022, e-Competitions June 2022, Art. N° 107419

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