All equal under anti-monopoly law, ministry says
Print Edition
FOREIGN and domestic companies are equal under China’s anti-monopoly law, the Ministry of Commerce said yesterday, amid several ongoing antitrust investigations involving overseas firms.
The aim of the probes is to root out monopolistic practices in general, promote fair competition and protect consumer interests, said ministry spokesman Shen Danyang.
Both domestic and foreign firms must bear the due liabilities if they break the law, he said.
Probes into a number of multinationals, including Mercedes-Benz, Microsoft and Qualcomm, have made headlines in recent weeks.
Under China’s anti-monopoly law, which came into effect in 2008, companies found guilty of such practices can face fines of between 1 and 10 percent of their annual revenue.
Foreign-invested firms have played an active role in China’s social and economic development over the past three decades, Shen said.
“The government has always been dedicated to creating an equitable business environment for companies and safeguarding the order of market competition.
“Over the past six years since the Anti-Monopoly Law took effect, both domestic and foreign firms have been probed,” he said.
The government will continue to adopt the same standards for domestic and foreign companies, and welcomes multinationals to cooperate with Chinese firms in diversified ways, he said.
Meanwhile, foreign investors and the companies in which they invest “must strictly comply with Chinese laws and regulations and fulfill their social obligations.”
Shen also commented on the probe into Shanghai Husi Food Co, which was shown in a local TV station report to have supplied fast food chains and restaurants in China with out-of-date and substandard meat products.
The ministry has pressed all companies involved to stop selling questionable products and actively cooperate during the investigation, he said.
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