国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Consumer concerns core of the issue

By Andrew Moody and Wang Chao (China Daily) Updated: 2014-08-18 04:45

In February last year, Kweichow Moutai was fined $40 million, the highest imposed on a single company under the new law so far. Its competitor Wuliangye Yibin was fined $30 million.

Some of the penalties imposed on the foreign companies now under investigation could be higher.

Audi, part of FAW-Volkswagen in China, one of the more high-profile companies being investigated, may be fined 1.8 billion yuan ($292 million), according to an undisclosed company source quoted in The Economic Observer newspaper in China.

Yet the fines and penalties that have been imposed in China remain a mere fraction of those applied in the EU or in the US.

In March this year, the EU fined two EU and four Japanese companies nearly 1 billion euros ($1.34 billion) for fixing the price of components in the car and truck industry.

In the US, the UK and Ireland, company executives can also be sent to jail and often are because the sanctions are criminal as well as civil.

Tetsuya Kumida, a former executive of a US subsidiary of a Japanese automotive products supplier, was sentenced to prison for 12 months and one day last year. Gary Walker, a former executive in the US of another Japanese auto parts company was sentenced to 14 months in jail last year.

Sebastien Evrard, partner of international law firm Jones Day in Hong Kong, says some of the media coverage of the recent probes has failed to pick up that the Chinese antitrust regime is not as severe as in other jurisdictions.

"There are no criminal sanctions in China unless you happen to kill an investigator. I think if you are a business executive in the United States where there is a possibility of going to prison you think about it (anti-trust activity) twice."

The fines imposed have been smaller in China than in the EU because of more relaxed interpretations of what constitutes a company's turnover.

They are imposed at both 1 and 10 percent of turnover in both jurisdictions. However, in the EU this is applied to a company's global sales, whereas in China it is often country turnover or even the sales of a specific product in the country.

"This is why you get this difference in the scale of the fines. The ones in the EU often run to hundreds of millions of euros and we have the recent one that was more than one billion euros," says Zhou at Taylor Wessing.

Three different government agencies are responsible for policing antitrust legislation in China.

Consumer concerns core of the issue

Consumer concerns core of the issue

Anti-trust team lacks real muscle for enforcement Qualcomm denies financial links with Chinese expert

Hot Topics

Editor's Picks
...
...
西吉县| 白水县| 察隅县| 贺兰县| 察隅县| 衡东县| 霍邱县| 博野县| 宜良县| 宁津县| 长治县| 牟定县| 柘荣县| 沙田区| 四川省| 汪清县| 荥经县| 肥西县| 民乐县| 萍乡市| 会泽县| 方正县| 田林县| 枣强县| 东阿县| 华池县| 丹阳市| 贺州市| 沿河| 漳平市| 天水市| 德州市| 龙里县| 通辽市| 信丰县| 永川市| 奎屯市| 阜城县| 池州市| 信阳市| 河源市|