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China: SAMR releases revised draft of anti-monopoly law

The State Administration for Market Regulation ('SAMR') released, on 2 January 2020, a revised draft of the anti-monopoly law ('the Draft Law') for public consultation. In particular, the Draft Law would introduce a provision for determining whether internet related businesses have a dominant market position by considering factors such as network effects and their ability to control and process relevant data. Moreover, the Draft Law would provide that one of its principal purposes is to encourage innovation.

In addition, the Draft Law would strengthen the requirements for fair competition reviews by administrative organisations and extend prohibitions related to business agreements. Furthermore, the Draft Law would increase the potential financial penalties for certain monopoly violations from CNY 500,000 (approx. €64,450) to CNY 50 million (approx. €6.5 million).

Comments can be submitted until 31 January 2020 through the SAMR Comment Portal (only available in Chinese here).

You can read the press release here and download the Draft Law here, both only available in Chinese.