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(Xinhua)
Updated: 2007-09-05 21:43

The European Union (EU) will follow closely the implementation of China's anti-monopoly law and hopes to cooperate with China in competition policy, said visiting EU Competition Commissioner on Wednesday.

"The visit coincides with the adoption of the first comprehensive Anti-monopoly Law by Chinese legislature. This is an important first step towards an effective competition regime," said Neelie Kroes, who is on her first official visit to China.

"The Chinese economy and the people of China will benefit from the implementation of a transparent and non-discriminatory competition policy," Kroes told reporters at a briefing.

China is now embarking on the next phase of its competition policy effort, which is the application and enforcement of the law, and the EU will follow closely the enforcement of the law, Kroes said.

The Standing Committee of the Chinese National People's Congress on August 30 passed the country's first anti-monopoly law, which will come into effect on August 1, 2008. It marked the end of a key legislative process lasting more than 13 years.

"I understand that the Chinese government is undertaking a major effort to design and implement the enforcement mechanisms before the entry into force of the law," the commissioner said.

According to the European Commission, Kroes' visit takes place in the framework of the EU-China Competition Policy Dialogue, a policy exchange mechanism established in 2003 whose primary objective is to establish a permanent forum for consultation and transparency between the two sides, and to enhance the EU's technical and capacity-building assistance to China regarding competition law.

"We were quite close in our cooperation, and are prepared to give a hand and to offer our experience with our competition policy and regulations to China," Kroes said.

"As during the process of drafting of the Anti-monopoly Law, China has showed willingness to reach outside and take inspiration from the EU in this new implementation phase," Kroes said.

"The EU will therefore continue to support China to protect the rights of all companies through a transparent legal and judicial system," Kroes said.

After visiting Beijing, Kroes will travel to Dalian, a seashore resort in Northeast China, to attend a World Economic Forum. She is also expected to address a group of business people on the EU competition policy.