Chinese competition law is going through its biggest changes in history. On 24 June 2022, the Standing Committee of the National People's Congress passed the long-awaited revision to the Anti-Monopoly Law (AML), China's key antitrust statute. Barely two working days later, on 27 June 2022, the Chinese competition authority – the State Administration for Market Regulation (SAMR) – circulated for public comment six rules implementing the AML in various areas. 

The changes announced over the last days will have an important impact on companies doing businesses in China. For example, conduct to be held anti-competitive under the AML will be subject to scrutini. Companies could get fined up to 50% of the annual turnover; individual managers and employees might be sanctioned for cartel conduct; and an AML sanction might be recorded in China's social credit registry. Conversely, there are developments which are likely to reduce the compliance burden for companies – for example, fewer M&A and JV transactions will need to be notified to SAMR as the filing thresholds are proposed to be increased; and there is a new market share "safe harbour" below which companies' distribution set-up (including distributor pricing rules) will be exempted.