Thursday, February 9, 2012
Posted by D. Daniel Sokol
Dan Wei (University of Macau Faculty of Law) discusses China's Anti-Monopoly Law and its Merger Enforcement: Convergence and Flexibility.
ABSTRACT: As the world's second largest economy and the world's fastest growing economy, China is a late but significant entrant into the competition law club with the implementation of the Anti-Monopoly Law (AML) on 1 August 2008. This article provides a review of the enactment of the AML and a detailed discussion of the merger provisions and application of those provisions by the competition enforcement agency. Despite the short history of application of the AML, empirical findings on merger enforcement illustrate that China is making efforts to realize a soft convergence with international norms. Meanwhile, China's gradual approach to convergence gives it the flexibility to stop, to adjust, and to make an exception whenever necessary to accommodate its transitional and growing economy.