China’s National People’s Congress opened its 2018 session Monday and will run through March 20. The US-China Business Council’s initial reporting on Premier Li’s report on the economy can be found here.
China’s National Development and Reform Commission (NDRC) recently announced its 2018 priorities for pricing investigations under the anti-monopoly law (AML), listing key industries in which it says price-fixing tactics impact the day-to-day lives of Chinese citizens.
Enforcement of China’s Antimonopoly Law (AML)—an ongoing priority for the US-China Business Council (USCBC) and the business community—has remained prominent in recent bilateral discussions. AML-related issues featured among the outcomes reached during last month’s state visit to the United States by Chinese President Xi Jinping, as well as in USCBC meetings in Beijing with senior officials from China’s three antitrust agencies.
Fewer restrictions on drug pricing and greater access for foreign companies may make for a healthier China, and bring both potential growth and growing pains to the pharmaceutical industry—a sector analysts expect to be worth upwards of $300 billion by 2020.
A lack of recent news about competition-related investigation cases should not be misinterpreted as a lull in enforcement activity related to China’s Antimonopoly Law (AML), a National Development and Reform Commission (NDRC) official stated at a recent USCBC-sponsored event.
Reforming state-owned enterprises (SOEs), reducing administrative burdens on companies, and opening up the economy are just three of the State Council’s recently-highlighted eight priority reform areas in the Opinions on Economic Reform Priorities in 2015 (“the Opinions”).