New guideline to supervise horizontal competition

The China Securities Regulatory Commission and State-owned Assets Supervision and Administration Commission released a guideline on Friday to supervise horizontal competition between State-owned companies and their public holding firms.

Horizontal competition refers to bodies involved in the same sector or sharing the same interests.

The document aims to regulate transactions and clarify the relationship between the two, according to the commissions.

It requires State-owned companies to provide specific plans to solve the problems regarding horizontal competition and clarify business scopes and boundaries, based on different development situations.