It's taken longer than Long March and the great leap forward but China is finally introducing an anti-trust law, reports The Economist.

Anyone who has worked in China would know that this has been a long time coming. There isn't much in the way of competition and a handful of big players set prices. But what makes this development complex is that most of the big Chinese monopolies are owned by the state, in part or in whole. And if economic security is threatened, they would be spared the brunt of the law.

Which in turn raises my suspicions that the law's real targets will be the foreign owned companies.

Watch this space.