The Influence of Socialist Principles on the Legal Regulation of Markets in China

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At the same time as using market mechanisms to allocate resources and coordinate economic outcomes in its economy, China remains committed to the socialist system. In particular, the leadership of the Party and the dominance of public ownership, which are principles that are fundamental to socialism in China, means that the state both directly participates in and also regulates the market economy. To explore the ways in which market regulation is shaped by the dynamics of the relationship, interaction, and tension between socialist and market principles within China’s economy, this chapter examines China’s competition law. Competition law is used to regulate markets, maintaining and protecting their competitiveness and ensuring their proper functioning. Examining its role and operation in an economy in which the state plays key functions provides important insights into understanding whether and how socialist principles influence competition law and the legal regulation of markets in China. This book chapter is part of an edited collection, "Socialist Law in Socialist East Asia", published by Cambridge University Press in 2018.