Competition policy key to China's market reform and opening-up

Executives of Chinese and multinational companies in various industries also expressed the key role of competition policies in regulating market in the era of economy reform.

Ye Hongjun, general counsel of China COSCO Shipping Co Ltd, said China's anti-monopoly institution helped to maintain a reasonable pattern of market competition by solving problems professionally.

Kyle Andeer, vice-president of Apple in charge of competition, commercial and international law, thanked the assistance of China's National Development and Reform Commission and MOFCOM in interpreting the laws since he took office eight years ago and looked forward to the next decade.

"China is an incredible important market for Apple," said Andeer. "And it is vital for us to understand why the decision is made. The institutions...helped to keep us up to date...and we had candid conversations with policy makers," he added.