Unprecedented changes are underway as Asia-Pacific competition authorities respond to significantly altered business practices triggered by the pandemic.
Now, more than ever, businesses need to be alive to the risks and opportunities presented by the region’s fast-changing competition law landscape, illustrated perfectly by the developments in China over the past week.
The sixth edition of Herbert Smith Freehills’ Asia-Pacific Competition Law Guide captures the changes in practice and regulation in nine jurisdictions to help you protect your business.
In this edition, we dive into the details of topical issues companies are facing, including:
- antitrust risks in horizontal cooperation agreements and vertical supply arrangements;
- actions that can be taken if a potential competition infringement is detected;
- potential penalties for competition infringements;
- the availability of self-reporting in particular jurisdictions; and
- merger control filings – thresholds and procedure.
An interactive hub is available on our website, or you can click below to download a copy of the guide:
Recent Development in the China Competition Law and Policy
On 24 June 2022, the 13th National People’s Congress Standing Committee passed the Decision to Amend the Anti-Monopoly Law (“AML“). This is the first major legislative update of China’s competition law since it was first introduced in 2008, with the amended version of the AML due to come into force on 1 August 2022. Key amendments include increased fining powers, clarification of the approach to resale price maintenance, and an elevation of the status of competition law in China.
Immediately thereafter, on 27 June 2002, the Chinese competition authority (SAMR), released for public consultation proposed amendments to six substantive regulations. The proposed amends are broad and significant, potentially altering basic positions relating to merger notification thresholds and the approach to fine calculation, introducing concepts such as “potential competition”, and providing guidance on gun jumping issues, market definitions, and dominance in the digital sector.
For further information, please contact:
Adelaide Luke, Partner, Herbert Smith Freehills