Anti-Monopoly: China to strengthen anti-monopoly efforts

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02:03

2018 marks the tenth anniversary of the establishment of China's Anti-Monopoly Law, or AML. The State Administration of Market Regulation says that China will continue to ramp up efforts to improve its anti-monopoly law. CGTN's Omar Khan, looks at what this piece of regulation has accomplished and what's ahead.

In the past 10 years of China's Anti-Monopoly Law many cases have been investigated and concluded, bringing about a new era in the administration of this field of law.

GAN LIN, VICE MINISTERSTATE ADMINISTRATION FOR MARKET REGULATION "As of October 2018, we have investigated a total of 165 monopoly agreement cases, and a total of 55 abuses of dominant market position cases. We have imposed fines amounting to over 11 billion RMB, thereby deterring the offenders."

Improving enforcement procedures and optimizing case-handling mechanisms are two of the administration's focuses over the past 10 years. Experts say their efforts are not in vain.

GAN LIN, VICE MINISTERSTATE ADMINISTRATION FOR MARKET REGULATION "Currently the review of simple cases is usually completed within 30 days. The percentage of cases concluded at the preliminary review stage has increased by more than 85%."

When asked about the handling of business operators involving foreign companies, SAMR executives stress that China has and will treat Chinese and foreign enterprises equally.

WU ZHENGUO, DIRECTOR ANTI-MONOPOLY BUREAU OF SAMR "During anti-monopoly law enforcement, China has protected foreign investors' lawful rights and interests. Also China will continue to act fairly toward both Chinese and foreign companies."

Amid major change in the international and domestic landscape, SAMR officials say revising the AML will remain on the agenda. Experts say the update will learn from the practices and experiences of developed countries, and address the most urgent problems. Omar Khan, CGTN.