New Law to Abolish Monopolies

After more than a decade of deliberation, China adopted its first anti-monopoly law on August 30. Most Chinese have experienced the inconvenience and negative effects of monopolies. Some local governments issue circulars, stipulating that only certain kinds of commodities are allowed into markets under their jurisdiction. Some monopoly businesses impose imparity clauses on consumers, forcing the latter to accept overpriced services.

Monopoly businesses always try to prevent rivals or potential rivals from fair competition. Without choices, consumers have to accept unfair conditions they are presented with. The excessive profits brought by monopolies mean they have no need to upgrade their technology and improve services, which ultimately result in economic inefficiency.

The promulgation of an anti-monopoly law is just a start. It is a strong legal weapon that will help consumers fight against monopoly businesses and industries. The law also sends out the signal that the market economy must act on the principle of fair competition. No businesses are supposed to dominate the market without self-improvement and good services. The new law is expected to promote the development of China's market economy and the government's regulation of monopolistic behavior, so that consumers can benefit from fair competition in the marketplace.

Market News

Preserve Those Memories

By 2010, urban residents are estimated to make up 50 percent of China's total population. However, the downside of rapid urbanization is the ongoing destruction of buildings of historical and cultural value in the country's ancient cities. In essence, the soul of these cities is being lost forever as new accommodations are built to house the migrating masses.

The copying of urban design and planning as well as the preference for high-rise buildings have resulted in the similarity and duplication of cities. Streets with historical features are submerged in large modern chrome and glass units, most of which are lacking in cultural significance. Cultural, traditional, historical and geographical factors are gradually disappearing from construction sites.

A modern city is composed of not only good infrastructure and a sound ecological environment, but also rich culture. Overemphasis on economic development will undoubtedly damage cultural features of a city, threatening precious cultural heritage.

If urban designers can take into full consideration the historical and cultural features and regard the cultural heritage as the basis for a city's image, historical and cultural construction will not be treated as a burden, but rather as something of value that can drive its sustainable development.

People's Daily

Investment Avoids Extravagance

Langzhong is an impoverished county in Sichuan Province, but the county's grain bureau and statistics bureau have extremely luxurious offices. When this situation was reported by the media, a local official responded by saying that the extravagant buildings were meant to attract more investment for the county's future economic development.

If this theory is true, luxury office buildings are not about corruption, but instead are part of some great mission to create wealth. It should therefore follow that areas that have more luxurious offices will attract more investment. But the reality is that although many impoverished counties have luxury office buildings, still there are few investments and little improvement in local people's living conditions.

Actually, few investors will see luxurious offices as a measure of local economic growth potential. Instead, companies tend to believe that the governments concerned do not act in accordance with the law, which forbids such extravagance, leaving the impression that perhaps the governments are unreliable. So in effect the intention acts as a deterrent rather than an attraction for investment.

Without any means to supervise how the fiscal revenues are spent, the public has to listen to absurd explanations by government officials. It's high time that the government's expenses were put under effective public supervision and control, to stop similar ridiculous explanations and a further waste of money.

China Economic Times

More Aid to High School Students

Currently Chinese primary and junior middle school students are provided with large amounts of aid by the government, because they are still at the compulsory education stage. As for college students, they receive financial help not only from the government, but the whole of society.

Needy high school students, however, are not so lucky. Instead of enjoying the helpful policies offered to students either younger or older than them, they have become targets of "exploitation," being charged with extraneous fees. As a result, a large number of outstanding students have to drop out.

Many in society believe that it's sad state of affairs if college entrants give up their education opportunities due to financial difficulties, especially those who are enrolled in key universities. It's also a pity that some top students have to quit high school even before they can take the college entrance examination. This kind of loss affects the whole nation.

From this September, needy high school students in Henan Province's Pingdingshan City can receive 1,000 yuan annually as a stipend. It's hoped that more can benefit from similar programs nationwide.

Dahe Daily