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It probably goes without saying that anti-monopoly law and practice are of very recent vintage in China. In August 2008, 118 years after the Sherman Act and 50 years after the Treaty of Rome, China’s Anti-Monopoly Law (AML) came into effect. Since then the enforcement of the AML has seen significant progress as well as considerable challenges. This volume, comprised of 27 highly informative contributions by more than 40 government officials, academics, economists, in-house lawyers, and private practitioners, introduces novice practitioners to the complexities of antitrust law in China and provides new insight for those already working in the field. Generally following the structure of the text of the AML, topics and issues covered include the following: an overview of the first five years of AML implementation; the institutional framework for antitrust enforcement in China; monopoly agreements between market players; abuses of dominance committed by a single company; problems and potential solutions for information exchanges between competitors; the economics underlying retail price maintenance; refusals to deal; procedural and substantive practice of merger decisions; the application of merger control to joint ventures; ‘administrative monopolies’ and the tension between competition and industrial policies; ways to seek legal redress; litigation (both administrative and civil) and the role of the courts; international cooperation efforts made in relation to Chinese antitrust enforcers; the relationship between the AML and China’s anti-bribery rules; the treatment of vertical integration or cooperation; and how the AML rules apply to intellectual property rights. Throughout the book there are analyses of major judgments with key conclusions to be drawn from them, as well as comparisons with corresponding judgments in other jurisdictions. This book is the first comprehensive analysis of the AML, and as such will be of inestimable value to business persons and in-house counsel, as well as to academics in Chinese law and competition law from a global perspective.
China's rise as an economic superpower has caused growing anxieties in the West. Europe is now applying stricter scrutiny over takeovers by Chinese state-owned giants, while the United States is imposing aggressive sanctions on leading Chinese technology firms such as Huawei, TikTok, and WeChat. Given the escalating geopolitical tensions between China and the West, are there any hopeful prospects for economic globalization? In her compelling new book Chinese Antitrust Exceptionalism, Angela Zhang examines the most important and least understood tactic that China can deploy to counter western sanctions: antitrust law. Zhang reveals how China has transformed antitrust law into a powerful economic weapon, supplying theory and case studies to explain its strategic application over the course of the Sino-US tech war. Zhang also exposes the vast administrative discretion possessed by the Chinese government, showing how agencies can leverage the media to push forward aggressive enforcement. She further dives into the bureaucratic politics that spurred China's antitrust regulation, providing an incisive analysis of how divergent missions, cultures, and structures of agencies have shaped regulatory outcomes. More than a legal analysis, Zhang offers a political and economic study of our contemporary moment. She demonstrates that Chinese exceptionalism-as manifested in the way China regulates and is regulated, is reshaping global regulation and that future cooperation relies on the West comprehending Chinese idiosyncrasies and China achieving greater transparency through integration with its Western rivals.
China's Anti-Monopoly Law (AML) is one of the youngest and most influential antitrust laws in the world today. This book aims to provide a better understanding of the evolution of China's AML to the international community through a collection of e
The China Anti-Monopoly Law (AML), which became effective August 1, 2008, is the first comprehensive competition law enacted by China. The AML prohibits a broad array of agreements between competitors and commercial counterparties, as well as competitive conduct by single firms that may harm the competitive process. In addition, it establishes a mandatory administrative review procedure for mergers and acquisitions between companies meeting certain sales thresholds, globally or in China. Beyond these fundamental provisions, the AML prohibits certain types of administrative abuses believed to be prevalent in China and establishes a complex set of administrative agencies with broad powers to enforce the law. Anti-Monopoly Law and Practice in China is the first comprehensive treatment of the AML and the practice of antitrust law under this new system. Each chapter on the substantive provisions of the law includes practical advice on approaches to meeting the challenge of complying with the law's requirements, including analysis of likely interpretations and applications of the AML based on precedents in related economic laws and actions by other administrative agencies. Where policy choices are uncertain, the text will explore probable developments in China based on comparable applications of competition laws in other jurisdictions.
This book focuses on experiences with the Anti-Monopoly Law (AML) of 2007 in China. It uses carefully-chosen case studies to examine how the competition authorities in China discuss cases and how they use economic reasoning in their decision-making process. Bringing together comparative perspectives, the expert contributors discuss the practice of the Anti-Monopoly Law in China from the viewpoints of European and American competition policy. Several very current topics are given specific attention, including enforcement, the role of the state, how to define the relevant market and how to apply the AML to regulated industries. The book also indicates the scope for mutual learning on how to improve the AML. The Chinese Anti-Monopoly Law will appeal to competition lawyers, attorneys-at-law dealing with economic law generally, civil servants and policy makers, comparative lawyers and social scientists with an interest in developments in China.
The Political Economy of Competition Law in China provides a unique, multifaceted perspective of China's anti-monopoly law.
The unveiling of the Anti-Monopoly Law (the “AML”) on August 30, 2007 marked a symbolic commencement of a new era of competition for China. Since the law was enacted in 2008, every move made by the Chinese antitrust authorities has been closely watched by the international community. While much attention has been devoted to second-guessing the political motives behind each of the Chinese government's decisions, little effort has been directed to studying problems in the institutional framework for implementing the AML. This article identifies three problems in the institutional design of China's antitrust enforcement system and calls for attention to remedy them. The first problem originates from China's tripartite system of administrative enforcement, which will lead to many potential conflicts between the National Development and Reform Commission (“NDRC”) and the State Administration for Industry and Commerce (“SAIC”), the two agencies that share enforcement responsibilities in the areas of restrictive agreements and abuse of dominant positions. While decentralization of enforcement has some modest benefits such as promoting competition among agencies and hedging the risks if any single agency fails to perform, it is imperative for NDRC and SAIC to have a work-sharing agreement that clearly delineates their rights and obligations in cases of concurrent jurisdiction. Moreover, the Anti-Monopoly Commission should set up a formal supervisory mechanism to resolve potential conflicts among the administrative enforcement agencies. Second, the concentration of authority in the Ministry of Commerce (“MOFCOM”) in the merger control regime has led to a myriad of adverse consequences including asymmetric bargaining, prosecutor bias, selective enforcement and lack of transparency. In this regard, China could learn from the E.U.'s experience and introduce more checks and balances into its merger control regime. Finally, private litigation has not been successful in China due to the challenges plaintiffs face in satisfying their burden of proof under the AML. However, private enforcement is an indispensible complement to public enforcement and should be encouraged in China.
Management and legal counsel of foreign companies operating in China as well as those outside China with Chinese business desperately need to keep up with the fast-paced antitrust developments in the most dynamic market in the world. The author of this book, Becky Koblitz, is a seasoned antitrust lawyer for a major U.S. law firm in Beijing. She has decades of legal experience as a prosecutor at the Antitrust Division of the U.S. Department of Justice, as well as in-house counsel for a German subsidiary of a major American real estate development company and as a lawyer at law firms globally. Her rich experience in the U.S., Europe and China, now often regarded as the three centers of global antitrust, makes her the perfect candidate to write a book on China's antitrust development. Her book is a quick read that tells what there is to know about China's antitrust enforcement and includes practical advice and examples for the various aspects of antitrust: dealing with competitors, dealing within the supply chain, mergers, etc. She writes in a straight-forward language such that non-antitrust lawyers can get beyond stock phrases like "illicit price coordination," "abuse of dominance," or "unilateral effect." Her book is a valuable and practical "cookbook" for antitrust compliance training and beyond. Another feature of the book is that it provides both legal and economic perspectives on antitrust analysis in China, which is important given that economic analysis is increasingly adopted by China's antitrust agencies and the Chinese courts. Thus understanding the logic and methodology behind economic analysis as applied to Chinese cases is key to conducting proper antitrust legal analysis that is tailored to the Chinese context. To write a book on the burgeoning antitrust enforcement and practice for the constantly evolving Chinese market is a real challenge. The trick, and it is not as easy as you would think, is to write simple declarative sentences, understandable to the antitrust layman, and at the same time not lose the rigor of antitrust analysis. I think this relatively short book is a remarkable achievement in meeting such a challenge, but I invite you to judge for yourself.
Derived from the renowned multi-volume International Encyclopaedia of Laws, this practical analysis of competition law and its interpretation in the China covers every aspect of the subject – the various forms of restrictive agreements and abuse of dominance prohibited by law and the rules on merger control; tests of illegality; filing obligations; administrative investigation and enforcement procedures; civil remedies and criminal penalties; and raising challenges to administrative decisions. Lawyers who handle transnational commercial transactions will appreciate the explanation of fundamental differences in procedure from one legal system to another, as well as the international aspects of competition law. Throughout the book, the treatment emphasizes enforcement, with relevant cases analysed where appropriate. An informative introductory chapter provides detailed information on the economic, legal, and historical background, including national and international sources, scope of application, an overview of substantive provisions and main notions, and a comprehensive description of the enforcement system including private enforcement. The book proceeds to a detailed analysis of substantive prohibitions, including cartels and other horizontal agreements, vertical restraints, the various types of abusive conduct by the dominant firms and the appraisal of concentrations, and then goes on to the administrative enforcement of competition law, with a focus on the antitrust authorities’ powers of investigation and the right of defence of suspected companies. This part also covers voluntary merger notifications and clearance decisions, as well as a description of the judicial review of administrative decisions. Its succinct yet scholarly nature, as well as the practical quality of the information it provides, make this book a valuable time-saving tool for business and legal professionals alike. Lawyers representing parties with interests in the China will welcome this very useful guide, and academics and researchers will appreciate its value in the study of international and comparative competition law.
THE FIRST GERMAN edition of this book appeared in 1940. Since then the book has gone through five more editions and has been translated into Spanish and Italian. The present English translation is based on the sixth German edition. The author was Professor of Economics at the University of Freiburg, Germany. Professor Eucken was a student at a time when the Historical School dominated the teaching of econo mics at the German universities. Although, at the beginning of his career, he did some work along the lines of the Historical School, neither the ~ims nor the methods of historical research the field of economics as practised by the representatives in of the Historical School satisfied him; and the fact that the members of this school were unable to explain the causes of economic events such as the German inflation after World War I was an added reason for him to turn to economic theory. He became, among German economists, the foremost opponent of the Historical School, which he criticised in several publica tions. Through his wrItings and his teaching he contributed his share to the revival of interest in economic theory which was noticeable in the 'twenties. And he was one of the few economists left in Germany who helped to keep this interest alive during the 'thirties and during World War II. During this time he published Kapitaltheoretische Untersuchungen (1936), and the present volume, which immediately gave rise to an extensive discussion in German economic journals.