The passage of China's Antimonopoly Law (AML) on August 30 completed a 13-year drafting process—one of China's longest—and put in place another element of a market economy framework by establishing guidelines for monopolies and anti-competitive behavior.
China Market Intelligence
The Standing Committee of the twenty-ninth National People's Congress (NPC) met in Beijing from August 24 to 30 and passed several laws, including the long-awaited Antimonopoly Law, and read the Draft Labor Dispute Resolution Law for the first time.
The US-China Business Council (USCBC) recently met with officials at the State Administration for Industry and Commerce (SAIC) in Beijing to discuss corporate structures, trademark protection, and other issues of concern to member companies.
The Financial Action Task Force (FATF), a Paris-based intergovernmental body focused on combating money laundering, on June 28 voted to elevate China from observer to member status, a move that followed the recent release of PRC regulations to prevent money laundering (see below).
The PRC State Food and Drug Administration (SFDA) on July 10 released the revised Administrative Measures for Drug Registration after twice soliciting comments from industry and the public in spring 2007.
The Standing Committee of the NPC in late June read the draft PRC Antimonopoly and Employment Promotion laws for a second time during its 28th session, though the drafts were not publicly released. Draft laws usually require three readings before their final passage.
The Standing Committee of the PRC National People's Congress will review a revised Lawyers Law this year. According to a draft released to the All-China Lawyers Association, the revised law is expected to clarify lawyers' rights and qualifications and provide more detailed rules on the operations of law firms.
The PRC State Council in late April released long-awaited regulations on government information disclosure that may boost government transparency and accountability. As with all PRC laws and regulations, however, the effect of these regulations will depend on how individual agencies at the national and local level interpret and implement them.
US and PRC cabinet officials will meet in Washington, DC, on May 23 and 24 for the second session of the US-China Strategic Economic Dialogue (SED), the US Department of the Treasury announced on Tuesday. The Treasury Department also announced the appointment of Alan Holmer as special envoy for China and the SED.
The PRC Supreme People's Court recently released a judicial interpretation on unfair competition cases that defines key terms and clarifies the calculation of damages in infringement cases that involve patents and trademarks.