A law for competition

Upholding fair competition, China's first anti-monopoly law, that takes effect today, ushered in a new chapter in the development of the country's market economy.

The new law, dubbed the "constitution for the market economy", will be a real boon to Chinese consumers by putting various monopoly practices under control.

However, Chinese legislators still have no time to breathe easy even after putting into practice the law which was proposed 15 years ago and was not passed until last year.