The Anti-Monopoly Law ushered in the first overhaul after it came into effect on August 1, 2008. After nearly four years of deliberation and discussion, it was adopted at the 35th meeting of the Standing Committee of the 13th National People's Congress on June 24, 2022 and will come into force on August 1, 2022. 

The main points of the revision of the new law are as follows, which puts forward new requirements for anti-monopoly compliance of enterprises in many aspects. 

I. Safe Harbor System 

Article 18.3 of the new Law adds a "safe harbor" system: for monopoly agreements reached between operators and counterparties, if operators can prove that their market share in relevant markets is lower than the standards stipulated by the anti-monopoly law enforcement agencies under the State Council and meets other conditions stipulated by the anti-monopoly law enforcement agencies under the State Council, they will not be prohibited. 

II. Improved Identification of Vertical Monopoly Agreements 

Article 18.2 of the new Law clarifies that vertical monopoly agreements with fixed resale price or limited minimum resale price shall not be prohibited as long as "the operator can prove that they do not produce the effect of excluding or restricting competition". 

III. New Provisions for Organizers and Helpers of Monopoly Agreements 

Article 19 of the new Law adds a new provision on "organizers and helpers of monopoly agreements": operators shall not organize other operators to reach monopoly agreements or provide substantial assistance for other operators to reach monopoly agreements. 

IV. Clarify Specific Applicable Rules of Anti-monopoly Related Systems in Field of Platform Economy 

The specific provisions of the new law in the field of platform economy are as follows: 

1. General Provisions (Article 9): Operators shall not use data and algorithms, technology, capital advantages and platform rules to engage in monopolistic behaviors prohibited by this Law. 

2. Abuse of market dominance (Article 22): Operators with market dominance shall not use data, algorithms, technologies and platform rules to engage in abuse of market dominance as specified in the preceding paragraph. 

V. Add Investigation and Handling Procedures for "Top-notch Mergers and Acquisitions" 

Articles 26.2 and 26.3 of the new Law add the investigation and handling procedures for "top-notch mergers and acquisitions": If the concentration of business operators fails to meet the reporting standards stipulated by the State Council, but there is evidence to prove that the concentration of business operators has or may have the effect of excluding or restricting competition, the anti-monopoly law enforcement agency under the State Council may require the business operators to make declaration. If the business operators fail to declare in accordance with the regulations, the anti-monopoly law enforcement agency under the State Council shall conduct an investigation according to law. 

VI. "Stop Clock" System for Reviewing Operators Concentration

Article 32 of the new law introduces the "stop clock" system, which stipulates that under three circumstances, the examination period of concentration of operators can be suspended, namely: (1) where the operators fail to submit documents and materials in accordance with the regulations, resulting in the failure of the examination work; (2) the emergence of new situations and new facts that have a significant impact on the review of operators concentration, which will lead to the failure of the examination work without verification; (3) where it is necessary to further evaluate the restrictive conditions attached to the operators concentration, and the operators put forward a request for suspension. 

VII. Establishment of Graded and Classification Review System for Pperators Concentration and Strengthening the Review of Operators Concentration in Important Areas Involving the National Economy and People's Livelihood

Article 37 of the new law stipulates: "The anti-monopoly law enforcement agency of the State Council shall improve the classification and grading review system of concentration of operators, strengthen the review of concentration of operators involving important areas such as the national economy and people's livelihood according to law, and improve the quality and efficiency of review." 

VIII. Strengthened Punishment for Illegal Acts 

The new law has greatly strengthened penalties, especially penalties for legal representatives, principal responsible persons and directly responsible personnel of operators who are responsible for reaching monopoly agreements, and has increasing fines for illegal implementation of concentration of operators, established a double punishment system, and added special articles on criminal responsibility.