Anti-monopoly actions tightened

Updated 2018-01-31 09:10:04 China Daily

Steps to check price fixing in key areas that could harm livelihoods

China will strengthen anti-monopoly law enforcement and tackle price collusion behaviors in key areas affecting people's livelihood and treat domestic and foreign companies on an equal footing, according to the nation's top pricing regulator.

Some of the key industries include natural gas, pharmaceuticals, intellectual property and automobile manufacturing, where price-fixing behaviors often exert wide influence on people's daily lives, according to the Price Supervision and Anti-Monopoly Bureau with the National Development and Reform Commission.

Other sectors include high-tech industries such as the manufacturing of storage chips for mobile phones. Prices of storage chips had risen at an astonishing pace over the past 18 months and triggered concerns at the regulator since December.

The government will issue more guidelines in key sectors to help companies understand China's anti-monopoly rules and become alert to potential antitrust risks, according to the commission. It will implement law enforcement treating foreign and domestic companies equally, according to the commission.

A number of prominent foreign companies have been fined for violating China's anti-monopoly rules. The highest fine issued by the commission was the 6-billion-yuan (7.04 million) penalty imposed on Qualcomm in 2015.

Apart from companies involved in a number of key sectors mentioned by the agency, the government will strengthen anti-monopoly law enforcement by local governments and industry associations that may have been involved in administrative monopoly abuse, according to Wang Junlin, an antitrust lawyer at Beijing-based Yingke Law Firm.

For instance, the government might pay more attention to cartels among industry associations that collude with companies to fix prices, he added.

Early in July last year, the paper manufacturing industry association in Zhejiang province was found to be a price cartel of 17 local paper manufacturers, who organized meetings among themselves to discuss price increases for whiteboard sheet rolls. A fine of 7.8 million yuan was imposed on the participants involved in price-fixing behaviors.

Earlier this month, the commission established a new division in charge of restricting local governments from intervening in pricing behavior.

The new division will focus on dealing with local governments' involvement in acts of issuing discriminatory terms for market entry or use of goods and services provided by preferred producers, according to the commission.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 18 2018 09:41:49

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 18 2018 09:41:49

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 18 2018 09:41:49

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords