BEIJING - China's economic planning agency revealed type rules to prevent price agreements and monopolistic pricing practices, the Government keep other tools inflationary pressures under control.
Xinhua/Zuma press Prime Minister Wen Jiabao checked prices Saturday in a Xilinhot city supermarket in northern China autonomous region internal Mongolia.The rules announced Tuesday and take effect February 1, arriving in Beijing, said that maintaining price stability will be a priority, and that it bring competition and pricing practices was closer to international standards once adopted of a basic Antimonopolzu law in 2008.
"In some sectors and areas, the actions are against competition law takes daily and constantly updated methods for the restriction of competition." Various forms of price collusion and abuse of monopoly seriously the statutory rights and consumer damage, ", said the national development and Reform Commission in a statement."
The law in 2008 implemented contains general provisions against many of the measures covered by the new regulations including price-fixing agreements between competitors and abusive pricing of companies with large market share. But Chinese laws are often General guides, further rules, sometimes necessary, taken to detail enforcement proceedings.
In their statement Tuesday of NDRC would she said Bill help new regulations by the rules, and also help keep business in the law. The NDRC said the new rules "an additional step in defining the boundary between legal and illegal, clarification of the criteria for the big players engage in price competition go."
Under the new rules are competitors of the reach agreements to fix prices, while business partners from be consent to minimum resale prices excluded, said the NDRC banned.
Companies which are a so-called dominant market share of "unfairly high prices" for your charge were and from "unfairly low prices" to pay, not for input. Adopted various anti-competitive pricing strategies of companies with a dominant market share will be also prohibited, including prices were among their production costs, with special discounts to force competitors and discriminatory pricing between similar customers.
A company deemed % or more dominant, if 50 is its market share, while the two companies as "dominant", if your combined market share two thirds are achieved in accordance with the rules.
Government officials are prohibited, your administrator use to restriction of discriminatory fees on products from other areas such as competition, said the NDRC.
Consumer prices in China according rose 5.1% one year earlier in November, the fastest rise to official data of more than two years. Reply Beijing has endeavoured, adequate supply with food and other staple ensure elements, and the central bank interest rates increased twice in the fourth quarter 2010 to combat inflation.
A draft of the new rules issued in August 2009 with regulators, seeking public comment on the proposals.
Antimonopolzu-in 2008 law served primarily as a mechanism to block or large mergers link conditions. Proposed acquisitions, the company with an annual turnover of 10 billion yuan (US$ 1.52 billion) global and four billion yuan in China can be completed only after receiving the approval of the Department of Commerce.
The enforcement of the law has drawn fire from critics for alleged bias against foreign mergers. The only store be rejected outright, under the law Coca-Cola Co.'s 2.4 billion dollar bid for China Huiyuan Juice Group Ltd. was founded in 2009.
Last week, said Nokia Siemens Networks, the acquisition of most Motorola Inc.'s network equipment business has been delayed, as the company approval from the anti Bureau of expect the Department of Commerce.
The business had until end of 2010 are closed been expected but was delayed, to the first quarter of 2011, pending Chinese regulatory approval, said Nokia Siemens Networks.
Write toAaron back at aaron.back@dowjones.com
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