AnJie Law Firm updates

China 2020: world's largest insurance market and foreign insurers' strategies
AnJie Law Firm
  • Insurance
  • China
  • November 14 2017

China's shift towards a knowledge-based digital economy is fuelling growth in the insurance sector, which aligns with the government's plan to double the rate of insurance penetration by 2020. By this date, insurance premium income is expected to have reached Rmb4.5 trillion. If this aim is achieved, China will have usurped the United States to become the world's largest insurance market, which bodes well for overseas insurers looking to participate in the domestic market.

NDRC hints at SEP pricing guidance to enhance Anti-monopoly Law compliance
AnJie Law Firm
  • Competition & Antitrust
  • China
  • November 09 2017

At the recent China Competition Policy Forum, a Price Supervision and Anti-monopoly Bureau official commented on the potential enactment by the National Development and Reform Commission (NDRC) of regulations on standard-essential patent licensing practices. The NDRC's proposal aims to ensure greater consistency with the Anti-monopoly Law and develop a consistent approach to the enforcement of IP rights-related anti-competitive conduct.

The rise of insurtech in China
AnJie Law Firm
  • Insurance
  • China
  • October 31 2017

A new wave of 'insurtech' companies (ie, insurers engaging with online distribution models and tech companies foraying into insurance) are recognising the gains to be made by entering into this emerging market. However, these developments by no means spell the end of the larger, more traditional Chinese insurers, which are adapting their longer-term business development strategies in response.

Refusal to deal: a review of Yunnan Ying Ding v SINOPEC
AnJie Law Firm
  • Competition & Antitrust
  • China
  • October 12 2017

Following the recent final judgment of the Yunnan Province Higher People's Court, the curtain has – for now – fallen on the Yunnan Ying Ding v SINOPEC refusal to deal case. This case is unique for several reasons. Among other things, it is reportedly the first antitrust dispute to involve the Chinese petroleum industry. In addition, it is the first case in which the plaintiff's claims have concerned refusal to purchase.

Rational approach to abuse of collective dominance in antitrust law
AnJie Law Firm
  • Competition & Antitrust
  • China
  • September 28 2017

The National Development and Reform Commission recently penalised two Chinese pharmaceutical undertakings for alleged collective abuse in the isoniazid active pharmaceutical ingredient market. This was the first time that the Chinese enforcement authorities applied the rules of the Anti-monopoly Law to a case concerning collective abuse.

Decoding exposure draft of MOFCOM's amendments to antitrust review rules
AnJie Law Firm
  • Competition & Antitrust
  • China
  • September 21 2017

The Ministry of Commerce (MOFCOM) recently released an exposure draft of the amendments to its Provisions on the Antitrust Review of Concentrations for public comment. The amendments aim to improve the functionality, comprehensiveness and quality of the provisions by incorporating MOFCOM's experience and its existing best practices. In general, this move to amend the provisions is praiseworthy. However, several issues will need to be resolved through the public consultation process.

Anti-monopoly enforcement trends in healthcare industry
AnJie Law Firm
  • Competition & Antitrust
  • China
  • September 14 2017

The healthcare industry has gradually become a key focal point of Anti-monopoly Law enforcement in China. Between the implementation of the law in 2008 and the end of July 2017, the National Development and Reform Commission and the State Administration for Industry and Commerce concluded a number of anti-monopoly penalty cases and accumulated significant industry experience. As such, healthcare enterprises are likely to face increasing anti-monopoly compliance challenges in future.

Guidelines on Trade Association Pricing Activities – a member's perspective
AnJie Law Firm
  • Competition & Antitrust
  • China
  • September 07 2017

The National Development and Reform Commission recently published its Guidelines on Trade Association Pricing Activities. The guidelines clarify trade associations' different pricing activities and categorise them according to their associated level of legal risk. As the guidelines advise associations on how to carry out their activities, they will have a direct impact on legal risk assessments and the day-to-day business of trade associations and their members.

Cyber-insurance: a closer look
AnJie Law Firm
  • Insurance
  • China
  • August 29 2017

Recent ransomware attacks across the globe have once again brought to the fore the all-encompassing enterprise risk management challenge that cyber-risks present to corporations. The raft of operational consequences of such an attack present an ever-burgeoning opportunity for insurers to expand further into this potentially lucrative new line of business. This is particularly pertinent in China, where there has been a shift towards increasing digitisation and automation in various high-tech industries.

Deregistration: trade association receives severest antitrust punishment
AnJie Law Firm
  • Competition & Antitrust
  • China
  • August 03 2017

In a recent Zhejiang Provincial Price Bureau case, 17 paper manufacturers were fined a total of Rmb7.78 million for reaching and implementing a horizontal monopoly agreement. Further, the price bureau ordered the Fuyang Paper Manufacturers Association, which had played a leading role in organising and facilitating the conspiracy, to be deregistered. This is the first time that a Chinese antitrust authority has invoked Article 46(3) of the Anti-Monopoly Law to deregister a trade association.

Upcoming regulations for investors in insurers
AnJie Law Firm
  • Insurance
  • China
  • June 06 2017

The regulations concerning investment limits and the required qualifications for shareholders that want to invest in Chinese insurers continue to be a focal point for potential investors. The China Insurance Regulatory Commission recently published the Administrative Measures for Equities of Insurance Companies (Draft for Comments), which make fundamental changes to the existing regulatory framework.

Comparative insight into China Risk-Oriented Solvency System
AnJie Law Firm
  • Insurance
  • China
  • May 30 2017

At present, the recently adopted China Risk-Oriented Solvency System (C-ROSS) is the only regime which regulates mainland insurers' capital adequacy. By appropriating the most useful features of existing global regimes, C-ROSS has formulated a risk-based supervision regime that is on a par with global standards, yet remains tailored to the specifics of the Chinese insurance market.

Declarations of death in personal insurance contract cases
AnJie Law Firm
  • Insurance
  • China
  • May 16 2017

When declarations of death are sought for insured persons, two issues arise: whether the declaration relates to accidental death; and whether it falls within the insurance period. The popular viewpoint is that a declaration of death is regarded as resulting from an accident, in which case the insurer must provide compensation. While the declaration may be dated after the period of cover under the insurance contract, this does not absolve the insurer of responsibility to compensate the claimant.

Presidential summit postulates rise of insurance investment ceiling
AnJie Law Firm
  • Insurance
  • China
  • May 09 2017

At the first meeting between Chinese President Xi Jinping and US President Donald Trump, the two leaders set the tone for future cooperation on a wide range of issues, not least market access between the two countries. According to Chinese and US officials, better access for US financial sector investments into China was mooted for inclusion as part of a 100-day plan to improve trade ties. This could have notable implications for the Chinese insurance industry.

Special evidential rules for antitrust-related civil litigation
AnJie Law Firm
  • Competition & Antitrust
  • China
  • March 30 2017

The evidential rules that apply to litigation in certain jurisdictions, especially those regarding the allocation of the burden of proof, have a significant impact on the ultimate result of a case. Private antitrust litigation is often highly complex and thus puts the plaintiff at a disadvantage. However, since special evidential rules were introduced in 2012, the success rate of plaintiffs in private antitrust litigation has started to increase.

CIRC imposes significant penalties on insurers due to irregularities
AnJie Law Firm
  • Insurance
  • China
  • March 14 2017

The China Insurance Regulatory Commission (CIRC) recently penalised two insurers for illegal practices with regard to the use of insurance funds. The penalties came just a few days after the CIRC chair stated that the regulator will continue to put significant pressure on companies and maintain close control over disorderly expansion and radical investment in order to eliminate potential risks. Companies that refuse to rectify their actions will be subject to the CIRC's strictest penalties.

Tetra Pak receives SAIC's severest antitrust penalty
AnJie Law Firm
  • Competition & Antitrust
  • China
  • January 19 2017

After a nearly five-year investigation, the State Administration for Industry and Commerce (SAIC) recently concluded its Tetra Pak case. In a landmark decision, the SAIC imposed its largest ever antitrust penalty on the Swiss packaging giant for its abuse of a dominant position in China and ordered it to cease its illegal conduct. The SAIC's innovative approach to assessing unspecified monopolistic behaviour is a milestone in antitrust law enforcement and its decision will serve as a valuable precedent.

Does the accessory principle apply to surety bonds?
AnJie Law Firm
  • Insurance
  • China
  • November 22 2016

China's surety bond market underwent significant development in 2016 and surety bonds have become one of the most important methods for securing a financial guarantee. However, due to a lack of clear Supreme Court guidance on the matter, the laws that apply to surety bonds issued by insurers in China are still the subject of much debate. One key issue is whether the Guarantee Law's accessory principle applies to surety bonds issued by insurers in China.

China intensifies pharmaceutical antitrust enforcement: NDRC rules in first-ever concerted practice case
AnJie Law Firm
  • Competition & Antitrust
  • China
  • October 13 2016

Enforcement in the pharmaceutical industry has been relatively weak since the Anti-monopoly Law's implementation in 2008. However, the National Development and Reform Commission (NDRC) recently issued a decision in the first Chinese case to involve a cartel established by way of concerted conduct. The case indicates that the authorities are increasing their enforcement efforts in the industry and demonstrates how the NDRC has improved its handling of complicated cases.

New review system milestone for fair market competition
AnJie Law Firm
  • Competition & Antitrust
  • China
  • September 29 2016

The State Council recently published its Opinions on Establishing a Fair Competition Review System in the Development of the Market Regime, signalling the formal establishment of China's fair competition review system. The system is a major initiative to ensure fair play among participants in the Chinese market, and the opinions represent a key step towards implementing the council's measures to streamline administration and delegate more power to lower-level governments.

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