After 14 years of debate, the legis-lature passed the Anti-monopoly Law (AML) at last on August 30, 2007, which was informally referred to as the \"economic constitution\". It came into effect only a few months after the equally significant Chinese Contract Law which spelled out specific and comprehen-sive rights for employees in China for the first time. Like the Contract Law, the Anti-Monopoly Law was problematic after it was adopted, and has raised issues with major foreign investors. One of them is that the AML was usually interpreted as protection-ism in many foreign enterprises' view. So what impacts does the Anti-monopoly Law have on the foreign investment, trade, MA (merger and acquisition) and China's domes-tic competition market? Is it a market-based and competition-friendly law or a protection-ist measure? And what should the foreign enterprises do in response to the new law and regulation?