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China’s stronger enforcement of the anti-monopoly law and Korea’s response

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Frame of Image hyung Lee, Specialist at KDI “ Tougher enforcement of the anti-monopoly law in China is expected to open markets and bolster the competition environment. In response, Korean companies must make efforts to take full advantage these changes to expand their business into the Chinese market while avoiding the risk of violating the stricter laws.” Ⅰ. Enactment and Significance of China’s Anti-monopoly Law China’s enactment of the anti-monopoly law is considered a leap forward towards a market economy. A symbol of its efforts to accelerate the transition into a market economy via the establishment of competition as a fundamental of market activities, China’s anti-monopoly law(反壟斷法)1) was enacted on August 30, 2007 and entered into effect on August 1, 2008. The “socialist market economy” China is pursuing is substantially different from the common notions of a market economy in terms of basic principles and goals. However, * This study is based on Jaehyung, Lee, ‘‘China’s Strengthening of Competition Law Enforcement and Korean Companies’ Opportunities,’’ in Kyungsoo Choi (ed.), China’s Economic Structural Changes and Korea’s Opportunities, Korea Development Institute, 2015 (forthcoming). 1) Competition law aims to build competitive market conditions by prohibiting monopolistic practices and stimulating competition, similar to Korea’s Monopoly Regulation and Fair Trade Act, the US’ Antitrust Laws, Japan’s Antimonopoly Act and EU’s Competition Law. KDI FOCUS 2 the latter is utilized a


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Title China’s stronger enforcement of the anti-monopoly law and Korea’s response
Similar Titles
Material Type Article
Author(English)

Lee, Jaehyung

Publisher

Sejong : Korea Development Institute
Date 2016
Journal Title; Vol./Issue KDI focus:no. 67
Pages 7
Subject Country China(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Holding KDI; KDI School
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