FX.co ★ China’s NPC Standing Committee Targets Online Competition in Draft Law

China's principal legislative body is set to examine a proposed update to the anti-unfair competition law this week, concentrating on the governance of competition in cyberspace. The Standing Committee of the National People’s Congress will review the revised draft for the second time between Tuesday and Friday, as reported by Xinhua News. Huang Haihua, a spokesperson for the Legislative Affairs Commission of the Standing Committee, highlighted that this revision introduces a system for fair competition review, aiming to mitigate intense rivalry among online platforms. The update delineates the responsibilities of platform operators to address unfair practices, granting regulators the authority to address misconduct. The draft specifies instances of unfair behavior such as data rights violations, unscrupulous transactions, and the exploitation of market dominance by large corporations through delayed payments to smaller enterprises. Originally enacted in 1993, this legislation was previously revised in 2017 and 2019.