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Home >> Business
UPDATED: 13:06, November 15, 2004
Laws necessary to counter monopoly by foreign giants
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The preparation for China's anti-monopoly law is accelerating. The State Administration for Industry and Commerce has worked out a report on behaviors of restrictive competition by multinationals in China which was based on its one-year survey.

Officials from the department explained this issue, due to the absence of the law, already aroused deep concern. And the solution, the report insisted, was to improve the legislation of laws of market competition. Drafts have been submitted to the National People's Congress.

The report proves that some multinationals are gaining dominance in the Chinese market. They launch acquisitions and control brands to consolidate and expand their presence in China with their rich capital endowment. The competitive edge or even monopoly is what they target at.

As a matter of fact, the excessive influx of foreign capital into the retailing has showed its negative effects. Take Nanjing as an example. Foreign supermarkets there impose expensive admission fees. Overcharged price tags, dumping, and price discrimination are also found.

However, the department of industry and commerce finds it difficult to investigate into these activities due to the absence of laws and regulations.

The software market is dominated by foreign products. And in tire industry, the playfield is occupied by foreign players like Michelin, Bridgestone, Goodyear, etc.

Foreign giants also control the competition in markets for films, computers, mobiles, cameras, soft packaging and beverages.

By People's Daily Online

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