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China to strengthen anti-monopoly oversight

Xinhua | Updated: 2019-05-17 21:42
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BEIJING -- China is set to step up anti-monopoly regulation as central and local authorities are mulling a new round of investigations over the issue, according to a report by Economic Information Daily Friday.

This year, the strengthened anti-trust efforts will mainly focus on gas, water supply, pharmaceuticals, telecommunications, power and railway sectors, said the report.

China has maintained a tough anti-monopoly stance in recent years, as a total of 116 anti-trust cases were filed and investigated in 2018, among which 88 were concluded, up more than 30 percent from a year ago.

The anti-monopoly law enforcement has covered more sectors including e-commerce, tobacco and pharmaceuticals, Zhang Qinyu, an expert with the China University of Political Science and Law, was quoted as saying.

China will enhance anti-monopoly law enforcement in the pharmaceuticals sector and crack down on behavior such as monopoly prices hikes, according to the State Administration for Market Regulation.

Local anti-monopoly departments of several provinces have also been accelerating investigations in the building materials sector. Anti-monopoly efforts in the telecommunications sector were also expected to be enhanced to encourage fairer competitions.

In the future, China should improve related laws and regulations, speed up the formulation of anti-trust guidance in key areas and strengthen coordination between competition and other economic policies, said the report.

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