China’s Fair Competition Review Regulations aim to promote fair competition and prevent local governments from offering incentives without approval, impacting foreign investors.
China Releases Fair Competition Review Regulations to Promote Market Competition
On June 6, 2024, China’s State Council introduced the Fair Competition Review Regulations to ensure fair competition in the market. These regulations restrict local governments from offering incentives without approval, impacting foreign investors. Shanghai also implemented new temporary import repair tax policies in the free trade zone.
The Regulations Aim to Level the Playing Field for Domestic Companies
The Fair Competition Review Regulations, released by the State Council, aim to unify the domestic business environment and promote fair competition between state-owned and private companies based on China’s Anti-Monopoly Law. These regulations mandate fair competition reviews for all policy measures to prevent any unfair advantages to specific market entities, emphasizing the importance of transparency and equal treatment for all businesses.
