China: Year’s antitrust fines reaching $300M, regulatory strength booms

Experts say China’s antimonopoly efforts continue to increase in efficiency and strength with nearly $300 million in regulatory fines so far this year, and those efforts are not expected to slow down.

According to reports, China has issued about $294 million in antitrust fines so far this year. Targets of these penalties include various Japanese auto parts manufacturers and various domestic insurers fined for anticompetitive conduct last month.

Insiders say China’s next phase in competition regulation will be to crack down on administrative monopolies – an effort that will likely include focus on the practice of using administrative power to harm competition.

China, which implemented its Anti-Monopoly Law in 2008, has been under fire in recent months for what some critics say is biased antitrust enforcement against foreign conglomerates. But experts say the coming months and years will likely show a more fair regulatory environment as it moves on to its second phase of regulation.

The first phase had authorities focus on monopolistic agreements, abuse of dominance and market concentration.

Full content: Want China Times

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