China Fines 12.88 Billion yuan over Unfair Competition Practices in 3 Decades
Over the past three decades, China has dealt with 757,000 unfair competition cases, with 12.88 billion yuan fined and confiscated nationwide, said the State Administration for Market Regulation(SAMR) at a symposium held on Wednesday. The symposium was held to commemorate the 30th anniversary of China’s first Anti-Unfair Competition Law, which was enacted in 1993 and subsequently amended in 2017 and 2019. On the same day, the SMAR also released China's Annual Report on Anti-Unfair Competition Enforcement (2022). According to the report, in 2022, the SMAR launched a special campaign against unfair competition for the fifth consecutive year, investigating and handling 9,069 unfair competition cases and imposing fines and confiscations of about 620 million yuan.
Source:China Intellectual Property