This was reported by the China State Council Information Office with a reference to SAMR data.
China has investigated and handled 757,000 unfair competition cases since enforcing the Anti-Unfair Competition Law 30 years ago, data from the top market regulator showed.
A total of 12.88 billion yuan (about 1.8 billion U.S. dollars) were in fines or confiscated money during the period, according to the State Administration for Market Regulation.
Enacted in 1993 and subsequently amended in 2017 and 2019, the Anti-Unfair Competition Law regulates business operators' unfair competition activities, including commercial secret infringement and commercial bribery.
In 2022 alone, China's market regulation authorities investigated and dealt with 9,069 cases violating this law, issuing total fines of 620 million yuan, according to the administration.
China has been working on strengthening regulation of market competition and law enforcement on unfair competition activities, striving to ensure business entities engage in fair competition in the market and enjoy equal legal protection.
Source: SCIO
