The draft fining guidelines and the future of antitrust fines in China

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In this article, we apply the formula for calculating fines proposed in China’s draft antitrust fining guidelines to data on historical non-merger case decisions issued by China’s antitrust agencies. We find that these predicted fines are significantly higher than actual fines imposed by the antitrust agencies. Thus, the article predicts that antitrust fines in China will be higher in the future once such fining guidelines are implemented.