Anti-monopoly law enforcement gets boost
Regulations target monopolistic practices, abuse of dominant roles
Regulations target monopolistic practices, abuse of dominant roles. PHOTO: ONLINE
BEIJING:
Three regulations approved in accordance with the anti-monopoly law, which are to take effect on Sunday, will lay a solid foundation for efficient enforcement of the law, the top market regulator said on Friday.
The regulations target monopolistic practices in signing agreements, abuse of dominant roles in the market and misuse of administrative powers to limit competition.
They add specifics to law enforcement procedures and reinforce supervision in handling monopoly cases, said State Administration for Market Regulation Anti-Monopoly Chief Wu Zhenguo.
Since the anti-monopoly law went into effect in 2008, China has been improving measures to fight monopolies to ensure fair play in the market through related regulations and guidelines, he said.
"The three regulations will be a milestone in anti-monopoly legislation," Wu said. "They will help unify procedures and standards for anti-monopoly law enforcement, ensure effective implementation of the anti-monopoly law and help government departments to administer matters in accordance with the law."
The regulations, for example, specify that the state administration is responsible for cases of national significance, while provincial administrations are responsible for anti-monopoly law enforcement within their jurisdiction.
They also specify that various forms of monopoly agreements are banned and more clearly define what constitutes abuse of administrative powers that limits competition.
Organisations and individuals are authorised to report to regulators regarding abuse of administrative powers that limit competition, and anti-monopoly authorities are instructed to investigate on the basis of a written report and evidence, the regulations say.
In the 11 years since the anti-monopoly law was adopted, the business environment in China has undergone great changes including emergence of the digital economy, said Chinese Academy of Social Sciences International Law Researcher Sun Nanxiang.
The regulations address the changes and include specific rules for new industries such as those related to the internet, he said.
The anti-monopoly law needs revision, but that will take time. So regulations are necessary to bolster anti-monopoly law enforcement, said Shanghai Jiao Tong University Economic Law Professor Wang Xianlin.
Wu, from the State Administration for Market Regulation, said authorities in China have treated all market entities equally in anti-monopoly law enforcement since implementation of the law and a large number of cases have been pursued.
By the end of July, 179 cases involving monopoly agreements and 61 cases involving abuse of dominant role in the market had been concluded with fines totalling more than 12 billion yuan ($1.7 billion) imposed.
Punishment was also meted out in 229 cases involving abuse of administrative powers to eliminate or limit competition, contributing to a fair market environment, he said.
This article originally appeared on the China Economic Net
Three regulations approved in accordance with the anti-monopoly law, which are to take effect on Sunday, will lay a solid foundation for efficient enforcement of the law, the top market regulator said on Friday.
The regulations target monopolistic practices in signing agreements, abuse of dominant roles in the market and misuse of administrative powers to limit competition.
They add specifics to law enforcement procedures and reinforce supervision in handling monopoly cases, said State Administration for Market Regulation Anti-Monopoly Chief Wu Zhenguo.
Since the anti-monopoly law went into effect in 2008, China has been improving measures to fight monopolies to ensure fair play in the market through related regulations and guidelines, he said.
"The three regulations will be a milestone in anti-monopoly legislation," Wu said. "They will help unify procedures and standards for anti-monopoly law enforcement, ensure effective implementation of the anti-monopoly law and help government departments to administer matters in accordance with the law."
The regulations, for example, specify that the state administration is responsible for cases of national significance, while provincial administrations are responsible for anti-monopoly law enforcement within their jurisdiction.
They also specify that various forms of monopoly agreements are banned and more clearly define what constitutes abuse of administrative powers that limits competition.
Organisations and individuals are authorised to report to regulators regarding abuse of administrative powers that limit competition, and anti-monopoly authorities are instructed to investigate on the basis of a written report and evidence, the regulations say.
In the 11 years since the anti-monopoly law was adopted, the business environment in China has undergone great changes including emergence of the digital economy, said Chinese Academy of Social Sciences International Law Researcher Sun Nanxiang.
The regulations address the changes and include specific rules for new industries such as those related to the internet, he said.
The anti-monopoly law needs revision, but that will take time. So regulations are necessary to bolster anti-monopoly law enforcement, said Shanghai Jiao Tong University Economic Law Professor Wang Xianlin.
Wu, from the State Administration for Market Regulation, said authorities in China have treated all market entities equally in anti-monopoly law enforcement since implementation of the law and a large number of cases have been pursued.
By the end of July, 179 cases involving monopoly agreements and 61 cases involving abuse of dominant role in the market had been concluded with fines totalling more than 12 billion yuan ($1.7 billion) imposed.
Punishment was also meted out in 229 cases involving abuse of administrative powers to eliminate or limit competition, contributing to a fair market environment, he said.
This article originally appeared on the China Economic Net