China's Antimonopoly Law

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China's Antimonopoly Law

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“The firm is at its best during a fight—whether that’s against an enforcer, or in court against a private litigant.” — Global Competition Review
A global team handling highly complex and sensitive matters in all aspects of litigation.
Members of the team have structured, negotiated and concluded a range of landmark agreements with China, most notably China's intellectual property rights agreements, market access agreement and the comprehensive US-China bilateral agreement that paved the way for China's WTO membership, covering all goods, services and agriculture in the Chinese economy. The team advises Chinese entities on their outbound commercial, investment and trade transactions, including obtaining regulatory approvals, and on the structuring of transactions and defending against trade actions. We have implemented investment strategies, structured business transactions and devised sophisticated market access strategies for multinational companies around the world, and have negotiated with and litigated against virtually every major trading nation, as well as emerging market countries. The firm has represented major multinational companies in investigations across China, Hong Kong, Japan, South Korea and Thailand. For one US-based client, we helped reduce or eliminate fines following an antitrust investigation in China, Japan and Korea, securing what has been reported as the largest-ever reduction in fines from the US Department of Justice following its investigation. Additionally, WilmerHale has conducted internal investigations for Asian businesses, including one dealing with alleged kickbacks and extortion by sales representatives and another related to a major US-based manufacturer’s acquisition of a Chinese firm for $300 million.
Our China Trade Practice offers a unique combination of services bringing together prominent policy, regulatory and government relations capabilities in China with premier in-country business and transactions experience.
Advising clients across industries on business dealings and regulatory challenges in China and advising Chinese companies on outbound transactions.
August 2008 will bring the world's greatest athletic competition to China for the first time in history. While all eyes at 8:08:08 p.m. China time on August 8 (an auspicious date and time in Chinese numerology) will be focused on the opening ceremony of the Olympics, another event with longer-term legal consequences will have taken place just a week earlier. That is the date on which China's long-awaited Antimonopoly Law (AML) takes effect. It constitutes a notable step along the path of transition from an economy dominated by state ownership and central planning toward a competitive, market-based and price-driven economy. The AML has even been referred to as China's "economic constitution." It also provides for two new government entities to administer the AML, furthering China's progression from a government dominated by industrial ministries toward a regulatory state.

To read the full article by WilmerHale partner Lester Ross, which originally appeared in the Spring 2008 issue of Antitrust, click here.

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