Feb 26, 2013
On January 4, 2013, China’s National Development and Reform Commission (“NDRC”) published a decision under the Price Law imposing financial penalties of RMB 353 million (approximately U.S.$57 million) on six Korean and Taiwanese manufacturers of LCD panels-Samsung Electronics, LG Display, Chimei, AU Optronics, Chunghwa Picture Tubes, and HannStar Display. The watershed ruling-the first extraterritorial application of Chinese cartel law with financial penalties almost 57 times greater than penalties previously imposed by a Chinese antitrust authority-signals a new and aggressive turn in behavioral antitrust enforcement for NDRC. I consider below the context for and implications of this revolution in Chinese cartel law practice.
Links to Full Content
- Cartel Enforcement Comes of Age in China – The National Development and Reform Commission’s LCD Panels decision