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A Study on Industrial Policy-Influenced Characteristics in Chinese Anti-Monopoly Law

  • DONG-A LAW REVIEW
  • 2014, (65), pp.529-550
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

Kim Joon Ho 1

1배화여자대학교

Accredited

ABSTRACT

Merger regulation in Anti-Monopoly Law of China(hereinafter ‘AML’) has been quite actively enforced and developed quickly despite of its short experiences. However, it has several characteristics that are rare in other developed countries' competition laws such as US, EU and Japan, especially its industrial policy-influenced competition law, which lots of commentators abroad criticise. It seems to become a permanent tendency of Chinese AML, even after it overcomes typical limitations in early-stage of competition law. It is not proper to say that the industrial policy-influenced competition law is its weakness in early-stage. Rather, it could be considered as an independent path that Chinese AML is now pursuing. Whether this new type of competition law will be successful or not is another issue. The achievements of Chinese AML need to be understood according to its own logic. Henceforward, if Chinese competition authority, MOFCOM tries to dispel worries from outside that MOFCOM is likely to exercise broad and arbitrary discretions when handling merger cases, it would be able to form reliable guidelines step by step which specify Chinese AML's unique but vague value factors like ‘national economy development’ or ‘national security’. We should be cautious when evaluating the advantages and disadvantages of Chinese AML that now follows its own path.

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