China's Follow-on Public Antitrust Enforcement Intensifies

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Dr. Annie Xue at AnJie Law Firm

China’s National Development and Reform Commission (NDRC) handed down antitrust penalties totaling 1.24 billion yuan on 12 Japanese companies in the past August, including eight auto parts makers and four bearing manufacturers. This action came after a series of global crackdown on auto parts price cartels taking place in the U.S., the EU, Japan and Singapore, while reinforcing the trend of the Chinese antitrust authorities following their counterparts in other major antitrust regimes, especially the U.S. and the EU.

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Better Late Than Never: NDRC Publishes Full Decisions on Zhejiang Car Insurance Cartel Case - Analysis of NDRC's Antitrust Law Enforcement Approach

Authored by Michael Gu (michaelgu@anjielaw.com) and Shuitian Yu at AnJie Law Firm

Introduction

Less than 2 weeks after the record fine (USD 200 million) in the Japanese Auto Parts and Bearing Manufacturers case that shocked the auto parts industry [1], on 2 September 2014, the Chinese price monopoly regulator, NDRC released its decisions [2] to impose combined fines of RMB 110 million (USD 17.89 million) on 23 property insurance companies and a local trade association in Zhejiang province for their price fixing in relation to car insurance. Among the companies involved in the case, one company is fully exempted and two other are granted significant reduction of the fines. Investigations into the Zhejiang branches of other nine insurance companies were terminated because those nine companies had not fixed prices or reached monopoly agreements.

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State Council Issues New Guideline To Accelerate Insurance Development

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Wu Shanshan from AnJie Law Firm

On August 14, 2014, State Council promulgated Several Guiding Opinions Regarding Accelerating the Development of Modern Insurance Services (“New Guideline”) based on the original version of Guiding Opinions [1] issued by State Council in June 15 2006. The New Guideline is deemed as the essential impetus to PRC insurance industry.

 
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Note of Caution: Record Fines on 12 Japnese Auto Parts and Bearing Manufactures - Analysis of the NDRC's Penalty Decision and Countermeasures of Companies

Authored by Michael Gu (michaelgu@anjielaw.com) at AnJie Law Firm

Within six years of implementation of China's Anti-Monopoly Law, the China's law enforcement agency responsible for supervising price monopoly, the National Development and Reform Commission ("NDRC"), continues to strengthen its law enforcement efforts with rounds of “antitrust storm” that swept across a number of industries and companies along with record fines. This is especially true since 2013, the NDRC has probed into number of high-profile penalty cases, including the LCD Panel case [1], Moutai and Wuliangye case [2], Baby Formula case [3], Shanghai Gold Jewelers case [4] and Spectacle Lenses case [5]. Meanwhile, the NDRC has also launched investigation into the US high-tech giants, InterDigital and Qualcomm. For InterDigital case, the investigation has been suspended [6]. As for Qualcomm case [7], Qualcomm has manifested their willingness to cooperate with the NDRC in its investigation and has submitted relevant commitment.

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China's Antitrust Enforcement is at Its Full Swing

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Dr. Song Ying from AnJie Law Firm

Since the very beginning of 2014, China’s public antitrust enforcement has attracted increasing attention domestically and abroad. Apart from business people, antitrust scholars and lawyers, even common people in the mainland have gotten to be familiar with the terminology of “antitrust”. The enforcement of China’s two antitrust investigative authorities, the National Development and Reform Commission (“NDRC”) and the State Administration for Industry and Commerce (“SAIC”), has foreboded two tendencies recently, which will be elaborated in the following.

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The Application of Reinstatement Value Insurance

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Song Yiqiu from AnJie Law Firm

Reinstatement Value Insurance is applied more and more in PRC insurance market. However, the Insurance Law of the People’s Republic of China does not specifically define the Reinstatement Value or how to apply the Reinstatement Value Insurance. This article pertains to briefly analyze the application of Reinstatement Value Insurance.

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Abuse of Dominance in Relation to Intellectual Property: From China's Perspective

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Li Xiang at AnJie Law Firm

Introduction

There is a joke in reference to the relationship between antitrust and intellectual property and the conflicts between them, which goes, “It is not easy to marry the innovation bride and the competition groom and some have argued that such a marriage will unavoidably lead to divorce.” Nowadays it is not a problem if there is an intrinsic conflict between them. In China, the principle that both of the two legal regimes serve the common purpose of promoting innovation and enhancing consumer welfare is broadly acknowledged.

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Abuse of Dominance in Relation to Intellectual Property: From China's Perspective

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Li Xiang at AnJie Law Firm

Introduction

There is a joke in reference to the relationship between antitrust and intellectual property and the conflicts between them, which goes, “It is not easy to marry the innovation bride and the competition groom and some have argued that such a marriage will unavoidably lead to divorce.” Nowadays it is not a problem if there is an intrinsic conflict between them. In China, the principle that both of the two legal regimes serve the common purpose of promoting innovation and enhancing consumer welfare is broadly acknowledged.

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Does Supreme People's Court's Decision Open the Door for Foreign Arbitration Institutions to Explore the Chinese Market?

Authored by Arthur Dong (dongxiao@anjielaw.com) from AnJie Law Firm and Li Meng

Whether foreign arbitration institutions could conduct arbitration in the People’s Republic of China (“PRC”) is a question that many industry insiders are curious about. Back in 2006, when the Wuxi Intermediate People’s Court (“Wuxi Court”) refused to recognize and enforce an arbitral award issued by the ICC Court of Arbitration in Shanghai in the Züblin case,1 many practitioners deemed that Chinese courts would decline opportunities for foreign arbitration bodies to carry out arbitration in China. However, the recently published PRC Supreme People’s Court (“SPC”) instruction in Longlide Packaging Co. Ltd. v. BP Agnati S.R.L. may suggest otherwise.

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General introduction on FATCA

Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and He Shan from AnJie Law Firm

At present, most Chinese financial institutions are paying quite close attention to the ongoing process of Chinese participation in the implementation of FATCA. It is heard that the Chinese government has made its decision to sign the bilateral with the U.S. government. If this is true, Chinese financial institutions will undertake many more obligations. Some other countries have already signed this kind of treaty. FATCA is like a storm sweeping the whole world and will rewrite the financial order all over the world. At this moment, it is necessary to know that in general, FATCA has already become a buzzword in the financial area.

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