China to tighten enforcement of antitrust laws, official says – Market Research Telecast

December 20, 2021
BEIJING, Dec 19 (Reuters) – China’s antitrust bureau will step up enforcement against monopoly behavior and push forward the amended law to improve the regulatory framework, said Gan Lin, head of the national antitrust bureau.

Gan argued that China still imposes “insufficient penalties” for some monopolistic activities, while certain regulations remain at an elementary level.

“With the rapid development of the digital economy and new industries and business models emerging one after the other, there are huge differences in the modes of competition between the new and traditional economies,” Gan said Sunday in an interview published in the official website of the State Administration for Market Regulation.

“There is an urgent need to continue to improve antitrust legislation and regulation of the industry.”

China got rid of its relatively laissez-faire approach to regulating the Internet sector market this year, blocking mergers and imposing a record $ 2.75 billion fine on e-commerce giant Alibaba Group Holding. for abusing their position in the market.

Alibaba was found to have engaged in a practice where an e-commerce platform prohibits vendors from selling on rival sites.

In October, it imposed a $ 527 million fine on food delivery giant Meituan. for abusing his dominant position.

“Market competition has shown great improvement, and smaller commercial operators have gained more space,” Gan said.

The office will also intensify antitrust reviews of concentrated companies and continue to prevent mergers from disrupting the market, Gan said.
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