Ensure fair competition and stimulate the development vitality of private enterprises

On March 25, 2023, the State Administration for Market Regulation (SAMR) released an implementation guideline for the Fair Competition Review Regulation. The regulation aims to ensure fair competition and stimulate the development vitality of private enterprises by conducting fair competitions on market entry, resource allocation, government procurement, bidding, and awarding subsidies. The guideline provides detailed rules and measures to implement the regulation, promoting a level playing field for businesses, especially private enterprises. This move is expected to boost entrepreneurship and innovation in China's economy.