The main purpose of the Guidelines is to create a fair and competitive market on online platforms and to safeguard consumer interests. Horizontal, vertical, hub and spoke agreements, and concentration of undertakings have been forbidden, and in doing so, the Guidelines provide ad hoc definitions of market dominance and abuse of such position in the online market this has its own peculiarities. Curtailing monopolistic behavior on online platformsĬhinese authorities, by means of the Guidelines, intend primarily to prevent monopolistic behaviors. The short time needed to finalize the Guidelines reveals the urgency felt by China to regulate its fast-growing digital economy to prevent and stop monopolistic behaviors and promote the sustainable and healthy development of online commerce. A breakdown of the Guidelines can be found here. The final version of the Guidelines does not substantially differ from the initial draft unveiled by the SAMR at the end of November 2020. On February 7, 2021, China’s State Administration for Market Regulation (“SAMR”) promulgated the Antitrust Guidelines for the Platform Economy (“Guidelines”) with immediate effect. The enforcement of the Antitrust Guidelines for the Platform Economy will strengthen the monitoring and regulatory capacity of financial and local industry authorities. A string of investigations into and penalties imposed upon Chinese internet companies, including leading e-commerce giants, in recent months signaled China’s seriousness about regulating its internet industry to promote fair competition and double down on monopolistic practices.
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