Chinese Ministry of Commerce has submitted for approval a proposed draft of the anti-monopoly law to the State Council, which is expected to transfer it for approval to the top legislature as soon as possible, said Vice Minister of Commerce Zhang Zhigang.

"After the legislature passes the law, support regulations will also possibly be enacted so as to promote the healthy and orderly growth of China's economy," Zhang told Xinhua in an interview Tuesday at the sidelines of the annual session of the National People's Congress (NPC).

Preparations for making the law have been going on for 10 full years, Zhang acknowledged. The ministry has set up an office to engage in international exchanges and draft an anti-monopoly law and conduct relevant investigation.

The NPC Standing Committee is scheduled to deliberate the draft anti-monopoly law this year, according to the committee's lawmaking agenda.

The Fair Trade Bureau under the State Administration for Industry and Commerce has completed a probe of anti-competition acts of transnational companies in China. The probe has found some transnational firms capitalizing on their advantageous positions to curb competitions.

According to a report on the probe, the first of its kind ever conducted by the bureau, transnational firms abuse their obvious advantageous positions in their areas of investment in China. For instance, Microsoft's operating system software and Tetra Pac packaging materials each share a 95-percent share of the Chinese market. Eastman Kodak, which has held a 50 percent-plus share of the country's roll film market, is sure to further step up its market dominance after having taken a 20-percent share of its sole major Chinese rival Lucky Film Corp.

Source: Xinhua