Brussels, 25/11/2003 (Agence Europe) - On Monday the European Commission and Chinese authorities signed a declaration "which marks the beginning of a competition policy dialogue between the European Commission and the Chinese authorities". As part of his tour of Asia, Commissioner Mario Monti met with Japanese competition authorities on Thursday and Friday (see above) and then with the Chinese Minister of Trade, Yu Guangzhou and the Minister of Administration, Industry and Trade, Wang Zhongfu. Discussions focused on the role of competition policy in the modern economy and the improvement of bilateral cooperation in this area. In this perspective, the European Commissioner also met the Chinese Prime Minister, Ms Wu Yi.
The cooperation declaration signed by the European and Chinese authorities is a concrete indication of the beginning of bilateral dialogue in competition, a dialogue in which the creation of a mutual and permanent consultation mechanism is envisaged, as well as strengthened EU technical assistance to China to help develop strong competition policy. Mr Monti underlined on this occasion that, "China is a strategic partner for the European Union. I am therefore very pleased that we can start a dialogue in this important policy area, which is crucial to balanced governance of globalisation. The European Commission has a long-standing tradition in competition enforcement and is willing to share its experience with the Chinese authorities".
The Chinese government adopted earlier this year draft regulations on mergers and acquisitions and on price control including the prohibition of abusive behaviour by dominant firms.