Huang Yong:Consumers will benefit w88 online sports betting huge antitrust fines
(Source: People's Daily Online Date:2014-8-22 Reporter: Li Jing）
Recently, the National Development and Reform Commission punished eight Japanese parts companies including Sumitomo for their price monopoly behavior in accordance with the law8.3196billion yuan, punish Japan Seiko and other four bearing companies for their price monopoly behavior in accordance with the law4.0344100 million yuan, total fine12.354Billion yuan. Today, the reporter interviewedProfessor Huang Yong, Deputy Leader of the Expert Advisory Group of the Anti-Monopoly Committee of the State Council and Director of the Competition Law Center of the w88 casino, interpreting sky-high antitrust fines. Professor Huang believes that after a monopoly company is punished, the company's parts prices will return to competitive prices w88 online sports betting inflated prices in the past. At the same time, as a necessary link for complete vehicles and subsequent maintenance services, the decline in parts prices will inevitably affect the market price of complete vehicles, and consumers will benefit w88 online sports betting this.
Reporter:How do you decide on this antitrust penalty?
Huang Yong: I think this ticket makes sense. What Japanese companies reached this time is a horizontal monopoly agreement. Competitors reached non-competition clauses on prices and restricted competition through collusive bidding. This kind of horizontal monopoly agreement involving prices falls under the category of core cartels. In terms of the nature of the market, competitors should determine their own sales models, set prices independently, and compete with each other. After reaching a core cartel, competition between major competitors is basically eliminated, and its harm to competition is the greatest and most direct. Therefore, each country imposes the strongest penalties on core cartels. In the United States, criminal investigations can even be initiated; if a civil lawsuit is filed, civil damages can be claimed three times the amount.
Reporter:12.35A fine of 100 million yuan,Is it a very severe fine??Why the media calls it a sky-high fine?
Huang Yong: Although the distribution of fines to each company is not the largest, the maximum fine imposed on a single company reached 10% of the previous year's sales8%, this ratio is the highest ever. According to Article of my country’s Anti-Monopoly Law46Article 11333_11353|Article 11333_11353|Article 11333_11353|Article 11333_11353|Article 11333_11353|Article 11333_11353|1%-10%OK. Compared with the previous penalty ratios, this time the companies that caused the greatest harm will be fined8%'s fine ratio is unprecedentedly strong, and it also serves as a warning to other market entities to implement similar behaviors.
Reporter: What are the characteristics of this Japanese monopoly compared with other monopoly cases in the past?
Huang Yong: This anti-monopoly penalty also applies Article 1 of my country’s Anti-Monopoly Law46Article 12495_12517|14A detailed lenient surrender system. That is, the first one who takes the initiative to confess and provide important evidence can be exempted w88 online sports betting fines in accordance with the relevant price monopoly procedural regulations, and the second one can be exempted w88 online sports betting fines by no less than50%The punishment can be reduced.
Why is there this system? Because the nature of horizontal price monopoly agreements is very bad, but it is also very hidden, and it is often difficult to detect even though it consumes a lot of administrative resources. When there is some news and companies are under pressure, they must encourage "whistleblowing" and dismantle this horizontal price monopoly agreement w88 online sports betting within, thereby saving administrative resources. After the United States pioneered this system, other countries followed suit. Judging w88 online sports betting foreign law enforcement practices, this system has proven to be a powerful tool in combating horizontal price monopoly agreements.
Reporter: Some people are worried that this antitrust case is suspected of being xenophobic by “targeting foreign companies”?
Huang Yong: Actually w88 online sports betting201014161_14278614303_14415
Reporter: Have the penalties had an impact on the prices of existing Japanese imported cars? Will consumers benefit w88 online sports betting this?
Huang Yong; Horizontal price monopoly agreements distort market prices through collusion. After punishment, the prices of corporate parts will return to competitive prices w88 online sports betting the artificially high prices in the past. At the same time, as a necessary link for complete vehicles and subsequent maintenance services, the decline in parts prices will inevitably affect the market price of complete vehicles, and consumers will benefit w88 online sports betting this.
Reporter: What other efforts do you think we should make to establish a fair market order?
Huang Yong: As China moves toward a mature market economy, antitrust law plays an increasingly important role. Society's understanding of antitrust laws continues to increase, the enforcement of the three law enforcement agencies has entered a normal state, law enforcement experience has continued to accumulate, and the level of law enforcement has continued to improve. For monopolized industries such as petroleum, telecommunications, and banks that are not only closely related to the daily lives of ordinary people, but also affect the operation and development of a large number of enterprises, although there are controls or partial controls on market access and pricing mechanisms, the market behavior of these state-owned enterprises is still subject to antitrust laws and is not exempted w88 online sports betting the antitrust laws. In the process of deepening the reform of the market economy, we should effectively promote the reform of monopolized industries through the enforcement of monopolistic behaviors, thereby improving the overall welfare of consumers. In addition, in the process of market economic transformation, administrative monopoly is a prominent problem, and its effect of eliminating and restricting competition is even greater than that of economic monopoly. It is necessary to strengthen the research on various types of administrative monopoly behavior, improve the level and accuracy of identifying administrative monopoly, make full use of the Anti-Monopoly Law to break local blockades, local protectionism and other administrative monopoly behaviors that harm market competition, and help establish and improve a unified, open, and orderly competitive national market. In terms of system construction, it should be noted that my country’s anti-monopoly law currently has only8Chapter57Article content, relevant supporting regulations are not complete enough. Compared with the century-old history of advanced foreign countries, there is still a big gap between us and them in anti-monopoly system construction and experience. In the future, we need to continue to move forward in the formulation of relevant supporting laws, regulations and guidelines. Only in this way can we meet the needs of law enforcement agencies and at the same time provide a clear basis for various social entities to comply with anti-monopoly laws and comply with Chinese laws.
Attachment: Original report link
http://legal.people.com.cn/n/2014/0822/c42510-25522199.html?w88 online sports betting=singlemessage&isappinstalled=0
Reprinted by Oriental Fortune Network:
http://finance.eastmoney.com/news/1350,20140822415431311.html
World NewsReprint:
http://article.wn.com/view/WNATb194381cf5fed5d53d9e040b926279ad/
Related report links:
"Guangming Daily":12Warning of antitrust fine worth 100 million yuan
"Nanfang Daily": Antitrust law treats all market entities equally
