China is working to institute its first-ever anti-monopoly law, sources with the Ministry of Commerce (MOC) said in Beijing Tuesday.

The draft was submitted to the State Council, or the Chinese central government, in March 2004 and was reviewed by experts in August, said MOC sources, who declined to be named.

The Ministry of Commerce, the Legislative Affairs Office under the State Council and the concerned branch of the National People's Congress (NPC), China's top legislative body, suggested the anti-monopoly law be enacted after learning of experience from overseas.

The Ministry of Commerce established an anti-monopoly probe office in September 2004, which is held responsible chiefly for conducting international exchanges, and doing the work relating to legislation and investigation of monopolies, sources said.

Source: Xinhua