The delegation from China’s Ministry of Commerce led by Gao Hucheng, China International Trade Representative and MOFCOM Vice Minister, held talks with the U.S. antitrust agencies delegation led by Acting Assistant Attorney General Sharis Pozen of US Department of Justice’s Antitrust Division and US Federal Trade Commission (FTC) Chairman Jon Leibowitz on November 29.

This is China’s first high-level delegation on a visit to US concerning competition polices and enforcement, since July 2011 when Chinese antimonopoly agencies and U.S. antitrust agencies signed an antimonopoly memorandum of understanding (MOU). Chinese and U.S. delegations introduced their recent antimonopoly polices and enforcement developments, discussed the role of antitrust enforcement in times of economic downturn and its relation with industrial policy objectives, reviewed and evaluated China-U.S. communication and cooperation on merger issues, and reached consensus on guidance for cooperation on investigations when one of the U.S. antitrust agencies and MOFCOM are reviewing the same merger.

The two sides agreed that, China-U.S. trade and economic relation is a vital basis for China-U.S. relations. It accords to the interests of the two nations and the two peoples to develop mutually beneficial and win-win China-U.S. trade and economic relations, while competition policies is an important guarantee for economic development. The talks are conducive to further deepening mutual understanding in competition policies and enforcement, sharing experience and enhancing cooperation.

The guidance for cooperation on reviewing concentration (merger and acquisition) includes: Abiding by laws, and carrying out work within authority; cooperation principle and content when the two sides are reviewing the same merger; duty of confidentiality in cooperation. The two sides agreed that, the guidance will not generate any legally binding rights and obligations, or restrictions on their communication and cooperation with any other organizations and agencies.

In order to strengthen China-U.S. cooperation on antimonopoly, China’s three antimonopoly agencies of National Development and Reform Commission, Ministry of Commerce and State Administration for Industry and Commerce signed Memorandum of Understanding on China-U.S. Antitrust and Antimonopoly Cooperation with U.S. Department of Justice’s Antitrust Division and US Federal Trade Commission.