By Shelley Zhang and David Goldstein (December 4, 2017, 2:22 PM EST) -- It has been approximately one and a half years since China's Fair Competition Review System (FCRS) was set as the cornerstone of Chinese competition policies. On Oct. 23, 2017, another "top-level design" [1] for promoting the implementation of the FCRS system — the Implementing Rule of the Fair Competition Review System (interim) (implementing rules) — was jointly issued by the five competition-related authorities, i.e., the National Development and Reform Commission (NDRC), the Ministry of Finance, the Ministry of Commerce, the State Administration for Industry and Commerce, and the Legislative Affairs Office of the State Council.[2] The implementing rules — which clarify the review mechanisms and procedures, refine the review criteria, provide more policy guidance, and strengthen supervision and accountability — should play a significant role in driving implementation of FCRS.[3]...