China and U.S. talk on anti-monopoly
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Xinhua, November 30, 2011
China and the United States on Tuesday held high-level talks on enhancing cooperation on anti- monopoly and anti-trust enforcement, with an aim to strengthen the bilateral economic and trade relations.
This was the first time that the two sides held such meeting since they signed in last July a memorandum of understanding (MOU) on anti-monopoly and anti-trust enforcement cooperation by related enforcement agencies from the two countries.
Gao Hucheng, China's International Trade Representative and Vice Minister of the Ministry of Commerce, led the Chinese delegation to the talks with the U.S. delegation headed by Jon Leibowitz, chairman of the U.S. Federal Trade Commission, and Sharis Pozen, acting Assistant Attorney General of the Department of Justice in charge of anti-trust affairs.
The two sides briefed each other on the latest developments on the anti-monopoly and anti-trust policies and their enforcement in own country, while discussing ways to further strengthen anti- monopoly and anti-trust enforcement in related industries, during a time of economic downturn.
They also reached an agreement on the guidelines of cooperation on pursuing anti-monopoly and anti-trust enforcement in individual cases, such as mergers of corporations, after reviewing the bilateral exchanges and cooperation in this field.
It was agreed that the China-U.S. economic and trade relations are the cornerstone of the overall bilateral relationship, and the enforcement of anti-monopoly and anti-trust laws can help secure the smooth development of their economies, to the benefits of both countries and peoples.
Such talks are conducive to enhancing mutual understanding of each other's practices in formulating and enforcing anti-monopoly and anti-trust policies, through sharing experiences and increased cooperation, the two sides agreed.
In July, three Chinese anti-monopoly law enforcement agencies, the National Development and Reform Commission, Ministry of Commerce and State Administration for Industry and Commerce, signed the MOU on cooperation in anti-monopoly and anti-trust enforcement, with the U.S. Department of Justice and Federal Trade Commission.
The document is a long-term framework between China's anti- monopoly enforcement agencies and their U.S. counterparts, designed to promote better enforcement of competition laws and regulations of the two countries. Under the MOU, the two sides will hold high-level consultations, exchange of information on law enforcement and policies, as well as cooperation on specific cases, mainly for mergers.
