Big Change of the Definition of Commercial Bribery
On 4 November 2017, the Anti-Unfair Competition Law Amendment was ratified by the Thirtieth Meeting of the Standing Committee of the Twelfth National People’s Congress after three rounds of review. It will come into effect on 1 January 2018. It has greatly improved the Anti-Unfair Competition Law which was enacted back in 1993. Commercial bribery, as an integral concern of the AUCL, has been in the spotlight during the amendment process. This article will analyze changes in the recipient of commercial bribery, state-owned enterprises and private enterprises standing on equal ground and requirements of booking expressly remained.