BEIJING: The top decision-making body of the Communist Party of China (CPC), the Political Bureau of the CPC Central Committee, vowed to strengthen anti-monopoly efforts and prevent the disorderly expansion of capital in 202, CGTN reported on Sunday.
The political bureau held a leadership meeting on Friday to make plans for the country’s economy for the year ahead. The upcoming Central Economic Work Conference is expected to give further details on the future course of China’s economic development.
Last month, China unveiled draft anti-monopoly rules relating to the country’s online economy, including detailed information about disclosure requirements. The State Council then approved the establishment of an inter-ministerial committee, aiming to enhance efforts to combat unfair competition.
“The Chinese market welcomes and encourages competition and will choose whoever has better services, but disordered competitions are uninvited,” Bai Ming, deputy director of the international market research institute of Chinese Academy of International Trade and Economic Cooperation told Nanfang Daily, a Chinese-language newspaper on Sunday. Capital expansion is a normal phenomenon in line with the laws of economic development, but it should obey the corresponding laws and regulations, he said, adding that “the business ethics of market players and their sense of social responsibility should also be emphasized.”
–The Daily Mail-CGTN News exchange item
