19 March 2015
China’s merger control regime under the Anti-Monopoly Law (AML) continues to grow and mature half a decade after it first came into force in August 2008.
The year 2014 has seen the Chinese Ministry of Commerce (MOFCOM) take on an impressive caseload of which a substantial portion had an international dimension, a testament to the growing importance of the Chinese merger control regime in the global economy. To deal with complex multi-jurisdictional mergers more efficiently and coherently, MOFCOM has frequently cooperated with foreign regulators in mature competition law jurisdictions like the EU and the US. In May, MOFCOM signed a memorandum of understanding with the Australian Competition and Consumer Commission to allow for formal information-sharing and collaboration with the Australian regulator on formulating theories of harm, market definition and assessing remedies. Notwithstanding the increased cooperation with foreign regulators, MOFCOM has not shied away from adopting diverging views to its foreign counterparts on global transactions.
An extract from The Asia-Pacific Antitrust Review 2015 - www.GlobalCompetitionReview.com