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China to ‘perfect’ legal rules against unfair competition

Randy Mancini 4 Jan 26
FILE PHOTO: A man stands at a crossroads in Lujiazui financial district in Pudong, Shanghai
FILE PHOTO: A man stands at a crossroads in Lujiazui financial district in Pudong, Shanghai, on the day of the opening session of the National People's Congress (NPC), China March 5, 2021. REUTERS/Aly Song

January 27, 2022

BEIJING (Reuters) – China will pick up the pace in “perfecting” legal rules against unfair competition among companies, an official of the top market watchdog said on Thursday.

Appropriate “traffic lights” will be set up, with anti-trust rules focusing on areas such as the platform economy, technological innovation, information security and livelihoods, Yuan Xilu, a regulatory official, told reporters.

The disorderly expansion of online platform companies exploiting their advantages in capital, data and technology has squeezed individual businesses, added Pu Chun, vice minister of the watchdog, the State Administration for Market Regulation.

(Reporting by Ryan Woo; Editing by Clarence Fernandez)