China's top market regulator has urged stronger law enforcement to tackle unfair competition and related problems like dubious practices and unethical market behavior in the digital economy, in order to better protect brands and other forms of intellectual property.
The forum and the report really demonstrate China's efforts and willingness to create an innovation-driven investment environment ...
Supachai Junkeiat, country director of TCP Group
At the first Anti-unfair Competition Forum in Beijing on Thursday, the State Administration for Market Regulation (SAMR) released the Anti-unfair Competition Law Enforcement Report of 2020.
The report features the top 10 cases against unfair competition.
According to the forum's data, in 2020, various departments of the SAMR have investigated and handled 7,371 cases of unfair competition in all, and imposed fines and confiscated goods, equipment or property worth a total of 416 million yuan (US$65.2 million).
From January to May, investigations into 1,345 anti-unfair competition cases resulted in fines and confiscations valued at 122 million yuan.
Gan Lin, deputy head of the SAMR, said during the forum:"Although the world's second-largest economy, China still faces many challenges in the context of fair competition: lack of deep awareness of fair competition, a legal system that still needs to be perfected and a regulatory philosophy that needs to be updated."
The SAMR will comprehensively strengthen efforts to tackle unfair competition, make breakthroughs in coordination of such efforts, enhance the supervision and law enforcement in key areas, improve the level in the rule of law, and further boost social participance, to cultivate a high-quality market competition environment and a high-standard market system, Gan said.
One of the forum attendees, Supachai Junkeiat, country director of TCP Group, a Thailand-based food and beverage company that owns the Red Bull beverage brand, said he has confidence in China's efforts to optimize the business environment, so will continue to invest in the country.
"The forum and the report really demonstrate China's efforts and willingness to create an innovation-driven investment environment, where everyone can enjoy innovations and support cross-border investments."
TCP announced last year its plans to invest more than 1 billion yuan to expand its beverage operations in the country over the next three years.
"I think this (drive against unfair market competition) is good news for everyone. We feel well protected and have more confidence to bring innovative energy drink products into the market," he said.
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