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Britain’s Competition Policy System: Reform Evolution and Enlightenments (No.129, 2020)
2020-07-13
By Yang Guangpu, Department of Macroeconomic Research, DRC
Research Report, No.129, 2020 (Total 5873) 2020-5-28
Abstract: As one of the first countries in the world to introduce competition policy system, Britain, after a long-term reform and evolution, has formed its current “1+7+1” framework which is composed of its Competition and Market Authority (hereinafter referred to as CMA), seven industrial supervision institutions and its Competition Appeal Tribunal (CAT). The system has played a significant role in ensuring fair competition and maintaining its market order, promoting innovation and technological advancement, protection consumer’s rights and enhancing the well-being of its society and otherwise. The reform evolution of Britain’s competition policy system makes good reference to China as regards its effort to further enhance its competition policy system and strengthen the basic role of competition policy. China could draw on the following enlightenments. 1. Legislation needs to be put in place in strengthening the basic role of competition policy; 2. A problem-oriented approach and a dynamic adjustment mechanism need to be given first priority in improving competition policy system; 3. The independence and transparency of law enforcement agencies need to be ensured; 4. Continuous efforts need to be made in intensifying the implementation of competition policy in industrial supervision; 5. The protection for small and medium-sized enterprises (SMEs) needs to be a pillar bolstering its competition policy system.
Keywords: competition policy system, reform progress, basic role, Britain
