ANTITRUST LAWjouRNAL After China began its historic transition from a centrally planned economy to a market economy in the late 1970s, it gradually came to realize that good competition policies would be of vital importance to its economic growth. As a result, China began experimenting with reform measures and enacting antitrust laws and regulations aimed at promoting competition in its economy. At first, China adopted a piecemeal approach, passing laws and regulations dealing with isolated competition issues as they arose. As competition issues became increasingly prominent, China recognized the importance of having a comprehensive antitrust law. In 1994, China began its efforts to enact the Anti-Monopoly Law (AML), China's first comprehensive antitrust legislation. Thirteen years later, on August 30, 2007, China's National People's Congress (NPC) finally adopted the AML. 2 The AML has provisions found in most other countries' antitrust laws, such as the prohibition of horizontal agreements and abuse of market power, and requirements for pre-merger notifications and reviews. The AML also contains many provisions not typical of antitrust laws, such as provisions regarding State-Owned Enterprises (SOEs) in important economic sectors, trade associations, and monopolies created by government agencies.
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