China’s legislators will begin drafting amendments to tighten the country’s anti-monopoly law next year as authorities look to curb monopolistic practices by internet giants such as Alibaba and Tencent.

Critics of the 2008 law say that it has failed to keep pace with the rapid developments in internet and financial businesses over the past decade.

The anti-monopoly law has been listed among key tasks for the National People’s Congress next year, Yue Zhongming, a spokesperson for the rubber-stamp legislature said during a press conference on Monday.

Members of the NPC standing committee will convene in Beijing on Tuesday for a five-day meeting to map out the key tasks for the legislature next year, Yue said.

Yue did not give further details about the amendments to the anti-monopoly law. He said only that the NPC will also draft amendments to laws covering futures trading, stamp duty and bankruptcy.

At an annual economic conference last week, President Xi Jinping and other top leaders called for strengthening measures to stop monopolistic practices and prevent financial chaos. The moves were seen as part of efforts to head off destabilizing factors in China’s economy, including curbs on internet giants Alibaba and Tencent and the booming fintech sector.

During the upcoming meeting, NPC standing committee members will scrutinize a proposal to ban lavish meals, Yue said. The proposal came after Xi earlier called for curbing food waste.

Looking back, the enactment of a national security law for Hong Kong in June was one of 10 major decisions made by the NPC this year, Yue said.

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