China will continue to develop effective anti-monopoly regulations to open its economy and encourage competitiveness, a State Council Information Office of (SCIO) China spokesman said Friday at a press conference.
SCIO press conference on Nov. 16. (Photo: SCIO official website)
Gan Lin, vice minister of the State Administration for Market Regulation, briefed the media on the enforcement of China’s Anti-Monopoly Law in the last ten years. She made four major points.
First, China insists on developing its anti-monopoly regulations and competition policy with Chinese characteristics. Officials wrote several regulations and guidelines, including the Provisions of the State Council on Thresholds for Prior Notification of Concentrations of Undertakings, in the past ten years. The Anti-Monopoly Law has played an important role in promoting the sustainable and healthy development of China’s economy.
Second, China promotes the establishment of a unified and fair market system. As of October 2018, 165 cases of illegal monopoly agreements have been investigated and 122,000 documents were reviewed by regional departments for fair competition.
Third, China has been standing up for the interests of consumers for decades. Officials conducted a number of investigations into price monopoly, ensuring and improving people’s livelihood. They have targeted sectors, including the auto, gas, electricity, transportation and medical industries, looking for administrative abuse to eliminate or restrict fair competition cases.
Fourth, China is encouraging a more open economic system. Over the past decade, China has participated in multilateral negotiations and promoted the harmonization of international competition regulations, and provided regulatory guarantees for the smooth progress of investment and trade activities. China anti-monopoly law enforcement has been fully recognized by the international community, and China has become one of the three major anti-monopoly jurisdictions in the world with the United States and the European Union.
“Anti-monopoly work in China still has many weaknesses and faces difficulties. We should deepen international cooperation in the field of anti-monopoly and promote the spread of a competitive culture,” Gan said.
