Gov't approval

The port city of Tianjin has finally won the central government's approval for its development zone dubbed the "Pudong of North China" by international investors.

In a statement released last Tuesday by the State Council, Binhai New Area was officially designated as an experimental zone for comprehensive reform, with a short-term emphasis on financial and allied services.

Vice-Premier Zeng Peiyan said the construction of Binhai New Area is a strategically important part of China's economic and social development. It will promote the growth of Beijing and Tianjin municipalities, North China's Hebei Province, and other areas around the Bohai Sea, he said.

Draft law

The State Council, China's cabinet, last Wednesday extended in-principle approval to a draft anti-monopoly law, which would provide a free and fair competitive environment for all enterprises.

A statement from an executive meeting of the State Council, presided over by Premier Wen Jiabao, said the draft law will be submitted for deliberation following revisions to the Standing Committee of the National People's Congress, the top legislature.

"Monopoly is not an offence in itself. The trouble arises when monopolies wield their dominant status to curb competition," said Huang Yong, an anti-monopoly consultant at the Ministry of Commerce, adding the law does not specifically target multinationals.

EU collaboration

China is ready to further collaborate with the European Union on protection of intellectual property rights (IPR), Minister of Commerce Bo Xilai said last week.

The country has strengthened enforcement of IPR protection laws and has launched campaigns against violations at wholesale and retail markets, Bo said at a meeting with EU Trade Commissioner Peter Mandelson.

"IPR claim centres are being set up across the country to help protect the interests of foreign companies," Bo said, adding the nation is willing to strengthen co-operation with the European Union in this sector.

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