1. The new Anti-Monopoly Law (the “AML”) of the People's Republic of China (the “PRC”) came into effect on 1st August 2008. The AML provides the PRC with a full competition law regime covering not only merger control but also anti-competitive agreements and abuse of dominance. 2. In this article we will focus on merger control and try to describe what is known about the new merger control regime at the time of writing, the key changes compared to the old regime , the unresolved jurisdictional and procedural issues, the institutional structure and the national security test. 1. Merger control in the PRC 3. Merger control is not new to the PRC and is the only really active area of competition law in the PRC before the AML. According to a presentation made by Ms. Yin Yanling (Divisional
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INTERNATIONAL : CHINA - NEW ANTI-MONOPOLY AUGUST 1ST 2008 - MERGER CONTROL - ANTI-COMPETITIVE AGREEMENTS - ABUSE OF DOMINANCE - SCOPE - MANDATORY NOTIFICATION REQUIREMENT - PENALTIES
Merger control in China as of August 1st, 2008: Still a long way to go
The new Anti-Monopoly Law (the “AML”) of the People’s Republic of China (the “PRC”) came into effect on 1st August 2008, which provides the PRC with a full competition law regime covering not only merger control but also anti-competitive agreements and abuse of dominance. Among these three main pillars, merger control is not new to the PRC and is the only really active area of competition law in the PRC before the AML. The new merger control regime is a definite improvement compared to the old regime, with the biggest advances being that the scope of the regime is increased to cover also domestic transaction, the inclusion of a requirement that at least two of the undertakings concerned have local turnover in China and the abolishment of the market share threshold. Other changes include that the mandatory notification requirement has been combined with suspension obligations at the risk of penalties. However, many issues remain unclear. In this article the authors describe the state of play on the day that the law came into force.
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