BEIJING - With recent anti-monopoly fines handed to seven firms, China is striving to build up a fair and free market for both foreign and domestic enterprises.
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"We have paid great attention to these setbacks which foreign companies have encountered, but our confidence in this market will not be affected," said Yang Qicheng, general manager of MicroConstants China, a preclinical and clinical service provider.
Last year, fines totalling more than 1.4 billion yuan were issued to domestic and foreign firms over anti-trust infringements.
"The moves are just a correction of the past. For the past few decades, China had been adopting preferential policies for foreign firms with a lack of standardized administration for them," said Zhao Zhongxiu, an economics professor at the Beijing-based University of International Business and Economics.
According to Zhao, many foreign companies used to adopt "localized " tactics to carry out their business, including the recruitment of officials' children.