As an important part of the market economic system, China’s fair competition review system aims to maintain market order and safeguard fair competition. However, the system faces many difficulties in the process of implementation, such as flaws in the self-review mode, imperfect external supervision mechanism, unclear review standards, irregular review procedures, unreasonable review organizations, and so on, which have weakened the impartiality and consistency of the results of the fair competition review, and thus reduced the trust of market participants in the review work. In addition, the lack of transparency and effective supervision of the review process makes it difficult for market participants to know the detailed process and results of the review, and thus unable to effectively supervise the review work. To further improve the effectiveness and fairness of the system and provide a strong guarantee for the healthy development of the market economic system, it is necessary to solve the paradox of insufficient motivation of the reviewing body and introduce a third-party retrospective assessment mechanism to eliminate the inherent defects of self-censorship, increase the substantive review standards and issue guidelines on the application of the review standards to scientifically set the standards for the review, and optimize the procedures of the review of fair competition and strengthen external supervision to promote the implementation of regional coordinated review.