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Guangdong unveils plans to ensure fair competition in the Greater Bay Area

2021-March-1       Source: Newsgd.com

Recently, Guangdong has released an implementation plan to further promote fair competition for businesses in Guangdong-Hong Kong- Macao Greater Bay Area.

Recently, Guangdong has released an implementation plan to further promote fair competition for businesses in Guangdong-Hong Kong- Macao Greater Bay Area.

[Photo: Nanfang Plus]

To level the playing field, the exchanges of competition policies implemented in Guangdong province, Hong Kong and Macao SARs will be conducted as a premise to establish new mechanisms for consultation, new platforms for collaboration and new channels for settling disputes.

As we are ushering in a new development stage, it has become increasingly more important, in fact, imperative and necessary to strengthen the fundamental position of competition policies, remove barriers to free flow of resources, and foster a unified, open, and modern market system with fair and orderly competition, said Mai Jiaomeng, the director of Guangdong Administration for Market Regulation.

The plan, unveiled on Sunday, mainly focuses on anti-monopoly and anti-improper competition, building an internationally competitive area full of vitality and improving development quality.

Shenzhen will be the first city to pilot the law of anti-monopoly and anti-improper competition. For investors from Hong Kong and Macao SARs, they will get pre-establishment national treatment and enter the market freely as long as they are not on the negative list system.

Under the national framework of ‘one country, two systems’, the plan also aims to achieve a high-level market integration in the Greater Bay Area. So, a Guangdong-Hong Kong-Macao Greater Bay Area competition policy commission will be set up.

The commission is led by the Guangdong Administration for Market Regulation and joined by relevant departments of the nine cities in the Pearl River Delta that constitute the Greater Bay Area with Hong Kong and Macao SARs.

Author | Fanny

Editor | Will, Jerry

Editor: Fanny

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