State Administration for Market Regulation: 108 monopoly cases were closed nationwide last year, with fines of 391 million yuan

The State Administration for Market Regulation recently released a summary of its anti-monopoly work in 2020 titled "Bringing New Outlook and Demonstrating New Achievements."

The work review pointed out that fair competition is the core of the market economy, and anti-monopoly is an inherent requirement for improving the socialist market economic system and promoting high-quality development. 

In 2020, 108 monopoly cases were concluded nationwide, with a total amount of fines and confiscations of 391 million yuan; 481 cases of concentration of operators were filed, 473 cases were concluded, and four cases of concentration of operators, including Nvidia's acquisition of Mellanox, were approved with additional restrictive conditions, promoting the construction of a unified, open, competitive and orderly modern market system. 

It is reported that in order to promote anti-monopoly work, market supervision departments act in accordance with the law and govern in accordance with law, build a scientific and complete anti-monopoly legal system with the Anti-Monopoly Law as the core, improve the fair competition system, actively promote the modernization of the competition governance system, and provide competition system guarantees for high-quality economic development.

In addition, market supervision departments have strengthened the construction of anti-monopoly law enforcement capabilities, promoted the modernization of governance systems and governance capabilities, and promoted the continuous optimization of the fair competition market environment.