Bookmark and Share

China Imposed Over Rmb 3.2 Billion Anti-Monopoly Fine Since 2013

Issued: October 21 2014

Sources from China's National Development and Reform Commission (NDRC) said that it recently made a penalty to the well-known enterprise FAW-Audi with a fine of Rmb 270 million. Up to now, China has made six anti-monopoly penalties of over a hundred million - totally over Rmb3.2 billion since 2013.

 

According to the principal of NDRC, the companies punished during the six years since the anti-monopoly law enforced were from both domestic and abroad. The officer declared that every company is equal before the anti-monopoly law in China and China has enlarged its scope of investigation and punishment since early 2013.

 

On August 20th, 2014, NDRC made a fine of Rmb1.235 billion to 12 Japanese automobile parts and bearings companies including Sumitomo, Seiko, NTN. etc. Nonetheless, the office said that China still welcomes foreign investors and keeps the opening-up policy as usual. All companies would be treated equally without discrimination on law enforcement.

 

Among all the anti-monopoly cases, the case of Qualcomm attracted more attention than others. It is reported that Derek Aberle, president of Qualcomm, came with his executives to NDRC to be inquired for its suspected monopoly behaviour for the fourth time. Qualcomm and NDRC had a broad and in-depth exchange of views on many issues of anti-monopoly.

 

Related Articles

 

Law Firms