Chinese competition law is going through its biggest changes in history. On 24 June 2022, the Standing Committee of the National People's Congress passed the long-awaited revision to the Anti-Monopoly Law (AML), China's key antitrust statute. Barely two days later, on 27 June 2022, the Chinese competition authority – the State Administration for Market Regulation (SAMR) – circulated for public comment six rules implementing the AML in various areas.
These recently-announced changes will have an important impact on companies doing businesses in China. For example, conduct to be held anti-competitive under the AML will be subject to much higher fines going forward. Companies could get fined up to 50% of the annual turnover; individual managers and employees might be sanctioned for cartel conduct; and an AML sanction might be recorded in China's social credit registry. Conversely, there are developments which are likely to reduce the compliance burden for companies – for example, fewer M&A and JV transactions will need to be notified to SAMR as the filing thresholds are proposed to be increased; and there is a new market share "safe harbour" below which companies' distribution set-up (including distributor pricing rules) will be exempted.
Want to understand more about what these updates and changes mean for your business? Join us for a session with an expert from Hogan Lovells to find out more!
Thursday 14 July
10:30 - 12:00 (China time)
Venue:
3rd floor, Hotel Jen, Beijing
北京市朝阳区建国门外大街一号 新国贸饭店 三层
（Online option available)
