The Sino-US Anti-monopoly High-level Dialogue Held Successfully in Beijing

January 9, 2014 Source: Ministry of Commerce Information Office

On January 9th, the Sino-US Anti-monopoly High-level Dialogue is held in Beijing. Vice Minister of Commerce Jiang Zengwei chairs the meeting. Vice Chairman of National Development and Reform Commission Hu Zucai, Vice Minister of State Administration for Industry and Commerce of PRC Sun Hongzhi, Assistant Secretary of the US Department of Justice Beyer and Chairman of the US Federal Trade Commission Lamy Raetz attend the meeting.

During the dialogue, Jiang Zengwei makes an opening speech on behalf of China. Three Chinese Anti-monopoly Law Enforcement Agencies successively introduce the new progress China has made on antitrust legislation, major cases enforcement, promotion and training as well as international cooperation in the past year. And they also look ahead into the focus of their enforcement and thinking of work in 2014. The representatives of the US introduce the situation of American antitrust cases enforcement. The two sides also discuss on the relationship between anti-monopoly and intellectual property, as well as the position of Competition Policy.

The Chinese side points out that as the largest developing and developed countries, China and the US are both influential powers in the area of anti-monopoly. Both combating international monopoly agreement and the prevention of cross-border mergers and acquisitions monopoly need the two sides strengthen cooperation. Lately, China releases The Decisions on Major Issues Concerning Comprehensively Deepening Reforms which has clearly put forward making the market play a decisive role in allocating resources, establishing a fair, open and transparent market rules and being against monopoly and unfair competition. China’s government will spare no effort to reinforce anti-monopoly work and to maintain a fair competition market order.

The American side says that although China has enforced anti-monopoly law only for a short period, China has made an impressive progress and achieved respect from all social circles of international antitrust. China and the US have different economic and political constitutions, whereas the US attaches great importance to cooperate with China on antitrust and is willing to make joint efforts with China to make full use of Sino-US High-level Dialogue platform, thereby to strengthen understanding, enhance mutual trust, reach a consensus and safeguard the legitimate rights and interests of consumers.

Both sides agree that this high-level dialogue is a complete success. Strengthening the cooperation between anti-monopoly enforcement agencies of China and the US plays a very important role in maintaining a fair competition market order and promoting the development of bilateral economic and trade relations. We hope to make full use of this platform, have frank communications, cooperate closely and learn from each other, together fight against the antitrust behaviors that disrupt the competition in the international market.

To strengthen the cooperation between China and the US on antitrust, in July, 2011, the two country’s antitrust enforcement agencies signed a memorandum of understanding on cooperation. According to it, the anti-monopoly agencies should hold a high-level dialogue once a year, to inform of their competition legislation and enforcement as well as latest development of related policies, also to exchange views on mutual concerning issues. This dialogue is the second high-level dialogue since the signing of the memorandum.

Translated by Zoe Wang