China deals with 175 monopoly cases in 2021

BEIJING -- 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) 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.