英语文摘:Fine signals zero-tolerance towards foreign cartels

A recent example is Microsoft's decade-long battle with the European Commission. The world's largest software company has already been penalized to the tune of 1.6 billion euros in the last decade for infringing EU antitrust rules.

After China opened up more than three decades ago, many foreign companies entered this huge market with a sense of superiority developed when local government officials extended their welcoming arms for big taxpayers.

Some large multinational companies even took advantage of the country's slack supervision and lagging legislation. For instance, Unilever (China) Co., Ltd. was fined merely 2 million yuan in 2011 over statements it made regarding planned price hikes in China. But in Europe, it was fined, together with another consumer goods giants Procter & Gamble, a total of 315.2 million euros for fixing washing powder prices during the same period.

The new leadership of China's ruling Communist Party has reiterated its adherence to the opening up and reform policy. The first fine over foreign cartels is just the beginning of stricter law enforcement. Overseas companies in China should focus more on the future, instead of immediate earnings.

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