August 16 (Xinhua) — The State Council Information Office held a press conference on August 16 on the theme "Promoting High-Quality Development." At the conference, Zhou Zhigao, Director of the Competition Coordination Department of the State Administration for Market Regulation (SAMR), pointed out that fair competition is the core of the market economy and an important guarantee for promoting high-quality development. In recent years, the SAMR has closely focused on the primary task of high-quality development, continued to intensify efforts to regulate market competition, and effectively maintained a fair competition market order, mainly carrying out work in three areas.

　　First, deepening antitrust supervision and enforcement in key areas. Over the past two years, the SAMR has continuously carried out special antitrust enforcement actions in areas related to people's livelihood, strengthening supervision and enforcement in fields such as pharmaceuticals, building materials, automobiles, and public utilities. Since 2022, it has handled 60 cases of monopoly agreements and abuse of market dominance, with fines and confiscations exceeding 2.5 billion yuan, steadily improving the market competition order. At the same time, it has advanced the normalization of antitrust supervision in areas such as the digital economy, and approved unconditionally in accordance with the law 48 cases of concentration of undertakings declared by platform enterprises. It has given full play to the warning and exemplary role of major cases, promoted undertakings to sign industry self-discipline conventions, issued reminders and urged rectification of monopoly risks in accordance with the law, supervised and guided enterprises involved in cases to carry out compliance rectification, and continuously optimized industry order.

　　Second, properly conducting antitrust review of concentrations of undertakings. Since 2022, the SAMR has concluded more than 1,900 cases of concentration of undertakings, approved with restrictive conditions 10 concentration cases including Simcere Pharmaceutical's acquisition of Tobishi and Wanhua Chemical's acquisition of Yantai Juli, and lifted restrictive conditions in accordance with the law in cases such as Marubeni Corporation's acquisition of 100% equity of Gaohong Company, stimulating corporate investment and M&A vitality. At the same time, it has implemented a review mechanism that separates simple and non-simple cases, entrusted market regulation departments in five provinces including Beijing to conduct antitrust review of certain simple concentration cases, launched business systems such as the concentration review system, and improved the quality and efficiency of case review.

　　Third, supporting and guiding undertakings to strengthen antitrust compliance development. In April this year, the Anti-Monopoly and Anti-Unfair Competition Commission of the State Council revised and issued the "Antitrust Compliance Guidelines for Undertakings," refining the compliance risk points of specific monopolistic conduct and establishing a compliance incentive system in the antitrust field. In addition, the SAMR issued the "Antitrust Compliance Guidelines for Concentrations of Undertakings," held a series of antitrust compliance lecture series, and supported and guided undertakings in strengthening compliance management. At present, the SAMR is accelerating the formulation of the national standard "Specification for Fair Competition Compliance Management of Undertakings," actively promoting the formation of a multi-party co-governance pattern featuring proactive corporate compliance, effective government guidance, and broad social support.

　　Zhou Zhigao pointed out that the Third Plenary Session of the 20th Central Committee of the Communist Party of China set clear requirements for strengthening antitrust efforts. Next, the SAMR will continue to strengthen and optimize antitrust supervision and enforcement, better maintain market order and remedy market failures, stimulate the endogenous driving force and innovative vitality of the whole society through fair competition, and promote high-quality development with greater results.