On 2 January 2020, China’s State Administration for Market Regulation (the “SAMR”) launched a public consultation on proposed amendments to China’s Anti-Monopoly Law (the “AML”). This signals the dawn of “Version 2.0” of China’s competition law, which has been on China’s legislative agenda since 2015. The proposed draft reflects a more aggressive enforcement policy, with the most significant amendments in the area of merger control, where the authority has been most active since the AML came into force over ten years ago. The key proposed changes are: Significant increase in fines for merger control violations. The fining cap for merger control violations will significantly increase from RMB 500,000 (ca. EUR 65,000 or USD 72,000), a level which has been criticised for not providing a
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The Chinese State Administration for Market Regulation launches a public consultation on proposed amendments to China’s Anti-Monopoly Law
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