China deals with 175 monopoly cases in 2021

BEIJING, June 10– China investigated and dealt with 175 cases of monopoly in 2021 amid efforts to strengthen the crackdown on monopolistic conduct and promote fair competition, said the country’s top market regulator. Last year, the number of monopoly cases handled by the country soared 61.5 percent from 2020, according to a report released by the State…

BEIJING, June 10 (Xinhua) — China investigated and dealt with 175 cases of monopoly in 2021 amid efforts to strengthen the crackdown on monopolistic conduct and promote fair competition, said the country’s top market regulator.

Last year, the number of monopoly cases handled by the country soared 61.5 percent from 2020, according to a report released by the State Administration for Market Regulation.

More than 23.59 billion yuan (3.52 billion U.S. dollars) of penalty was imposed over cases involving misconducts such as implementing “exclusive dealing agreements,” abusing dominant market position and using administrative power to exclude and restrict competitions.

In 2022, more measures will be taken to strengthen anti-monopoly supervision and law enforcement in key areas, optimize the legal system for fair competition and foster a market-oriented, law-based and internationalized business environment, said the administration. Enditem

ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.