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At the 21st meeting of China's Central Committee for Comprehensively Deepening Reform, presided over by Chinese President Xi Jinping on August 30 this year, antitrust enforcement regulation was among the top issues discussed. The meeting sent a clear and strong signal about China's determination to further enhance its antitrust.
In early 2020, China's State Administration for Market Regulation (SAMR)国家市场监督管理总局 released a draft amendment of China's Anti-Monopoly Law (AML)《反垄断法》. Recently on October 19, 2021, this process was brought to the next step with a formal amendment proposal before the Standing Committee of the National People's Congress (NPC) for review. After the amendment is finalized, it will be the first time that China's Anti-Monopoly Law is updated since its adoption in 2007. Among the many changes, the amendment is putting a great emphasis on regulations in the digital economy, and increases the amount, type, and liability of various penalties.
In addition, China's National Anti-Monopoly Bureau国家反垄断局, located in the same building of SAMR, was officially launched on November 18 this year. Previously, antitrust enforcement was assigned to one of SAMR's many departments, the Anti-Monopoly Bureau. Now, this department is elevated to the deputy ministerial-level as the National Anti-Monopoly Bureau with a Vice Minister directly in charge.
These two developments are arguably the most significant changes since the beginning of China's modern antitrust history in 2008. But how will the law amendment and establishment of the National Anti-Monopoly Bureau affect AmCham China members?
To help members navigate the changing situation, AmCham China's Legal Affairs Committee is pleased to announce our upcoming Antitrust Panel. With the support of esteemed legal experts from the Chamber's legal service community, this panel will discuss the Anti-Monopoly amendment and government restructuring in depth, shed light on the current thinking of central regulators, and provide a helpful guide for companies to reduce exposure to strengthened antitrust enforcement.
Many of the significant changes are expected to be implemented in 2022, so now is the best time for companies to step up antitrust compliance efforts!
*This online event will be conducted in English only and off the record.
