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Economic Background of Competition Policy in China

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Chinese Merger Control Law

Part of the book series: Munich Studies on Innovation and Competition ((MSIC,volume 2))

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Abstract

The formation of the merger control regime under the AML and its enforcement by MOFCOM are to be seen against the backdrop of the economic system and market structures in China. The AML is embedded in the general economic and legal environment in China, and the political and social characteristics that are unique to China have contributed to the formation of Chinese competition policy. The following analysis will therefore shed some light on the background and broader context of Chinese competition policy. In a first step, the state of economic development of China will be assessed, followed by an outline of the reforms in the state-owned sector that have led to a retreatment of state control in nonessential sectors and its concentration in strategic sectors. Finally, the policies applicable to foreign direct investments will be sketched.

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Notes

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    Pursuant to Article 18 of the Price Law, the commodities subject to government control are (i) a very small number of commodities that have a vital bearing on the development of the national economy and the well-being of the people, (ii) a small number of commodities for which resources are scarce, (iii) commodities placed under natural monopoly, (iv) important public utilities, and (v) important public welfare services.

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    Zheng, 32 U. Pa. J. Int’l L. 643, 657 et seq. (2010), http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1738024, last accessed 12 January 2014, who notes that this pattern has persisted through the 1990s and that, by 2001, manufacturers of washing machines, television sets, refrigerators, and assemblers of automobiles were spread across more than 20 provinces, respectively.

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Weinreich-Zhao, T. (2015). Economic Background of Competition Policy in China. In: Chinese Merger Control Law. Munich Studies on Innovation and Competition, vol 2. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-43868-8_2

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