On July 27 2011 China’s three anti-monopoly agencies – the Ministry of Commerce, the National Development and Reform Commission and the State Administration for Industry and Commerce – signed an antitrust and anti-monopoly memorandum of understanding with the US Federal Trade Commission and the US Department of Justice in Beijing, with the aim of promoting international communication and cooperation between the agencies.
Federal Trade Commission Chairman Jon Leibowitz stated:
"From the first suggestion to this final signed [memorandum of understanding], both countries has been preparing for two years. During the preparation period, we have established a mutual and steady trust relationship, and made the encouraging goal on market competition."
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