The flagship newspaper of the Chinese Communist Party (CCP) says the launch of a new anti-monopoly authority in China marks the end of the “disorderly” growth of the country’s massive online platform enterprise.
“In recent year’s China’s platform economy has seen rapid growth, bringing considerable problems, including rampant expansion of capital, monopolies, and inappropriate competition which have become increasingly pronounced,” said the opinion piece entitled “Farewell to Disorderly Competition, Platform Economy Growth Must Tighten the Bottom Line of Abiding the Law” (告别无序竞争，平台经济发展要绷紧守法底线) published by the People’s Daily on 27 November.
“This is especially the case for a number of large-scale internet platform enterprises, who make use of advantages in the areas of data and technology to rapidly grow into platform giants, exclude and restrict market competition, create ‘winner takes all’ effects, and influence the fair and competitive market order of platform economies.”
The People’s Daily highlighted a slew of new legislation launched since the start of 2021 to curb the excesses of China’s internet platforms, including the “Anti-monopoly Guidelines Concerning the Platform Economy Sphere” (关于平台经济领域的反垄断指南), the draft version fo the “Provisions Banning Inappropriate Competitive Conduct on the Internet” (禁止网络不正当竞争行为规定（征求意见稿), and the draft version of the “Explanation of Several Issues in Relation to the Application of China’s Anti-Unfair Competition Law” (关于适用〈中华人民共和国反不正当竞争法〉若干问题的解释（征求意见稿）).
The CCP’s flagship newspaper further highlighted initial review of amendments to the “Anti-Trust Law” on 19 October by the Standing Committee of the National People’s Congress, and the official opening of the State Anti-Monopoly Bureau (国家反垄断局) on 18 November as “milestone events” for China’s standardisation of market competition.
“These milestone events continually improve the development of platform economy laws, regulations and mechanisms, and further standardise the conduct of Internet platforms for China, providing a vigorous safeguard for the orderly development of platform economies.”