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On March 30, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice proposes exploring extraterritorial enforcement of anti-unfair competition laws. It calls for exploring and promoting the extraterritorial application of my countrys anti-unfair competition laws and regulations, resolutely cracking down on unfair competition practices such as false advertising, online unfair competition, commercial defamation, and infringement of trade secrets committed overseas that disrupt domestic market competition order and harm the legitimate rights and interests of domestic businesses or consumers, thereby safeguarding the security of my countrys industrial and supply chains and protecting the interests of my country and its enterprises. The notice also encourages actively exploring extraterritorial enforcement practices, accelerating the development of a specialized team of personnel for foreign-related law enforcement, and supporting qualified localities to conduct pilot programs.On March 30th, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice proposes establishing a multi-dimensional collaborative mechanism to address the issue of large enterprises and other operators defaulting on payments to small and medium-sized enterprises (SMEs). It emphasizes the need to comprehensively assess whether large enterprises and other operators hold a dominant position by considering factors such as the trading parties industry standing, trading habits, and impact on SMEs and the overall market order. Accurate identification of illegal behavior requires that the perpetrator be a large enterprise or other operator, that the behavior demonstrates a specific abuse of its dominant position, and that SMEs be forced to accept clearly unreasonable trading conditions, resulting in defaulted payments.On March 30th, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice emphasizes curbing typical unfair competition practices. Adapting to the requirements of high-quality development and the development of new productive forces, it calls for continued efforts to combat common and prevalent unfair competition practices such as counterfeiting, false advertising, infringement of trade secrets, and unfair sales promotions, thereby promoting a fair and competitive market environment. The notice also emphasizes correctly understanding the constituent elements of unauthorized use of others product names as search keywords, fraudulent transactions, and false reviews, and reasonably defining the legal responsibilities of those who aid and abet confusion and sellers of illegal goods, avoiding both overgeneralization of protection and condoning illegal activities.Irans deputy energy minister said that power has been restored to normal in Tehran and Alborz province.On March 30, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice emphasizes strengthening the supervision of unfair competition online. It calls for balancing vitality and order, improving online competition rules, and enhancing the level of routine supervision of unfair competition online. It also stresses the need to effectively utilize special provisions prohibiting infringement of data rights and rules protecting trade secrets to accurately identify unfair competition related to data, balance data protection and data utilization, strengthen protection for emerging industries such as artificial intelligence, effectively protect the legitimate rights and interests of all participants in data elements, and maintain order in the data market competition. Furthermore, it calls for timely responses to various new types of unfair competition online and effective regulation of unfair competition using data, algorithms, technologies, and platform rules.

Oil Prices Fall As the EU Seeks to Impose Russia Import Ban

Aria Thomas

May 17, 2022 09:48

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Oil prices opened down in early Asian trade on Tuesday as Hungary resisted European Union plans to implement a ban on Russian oil imports, a move that would constrain the global supply.


At 0004 GMT, Brent crude futures decreased 35 cents, or 0.3%, to $113.89 per barrel, while U.S. West Texas Intermediate (WTI) crude futures decreased 52 cents, or 0.5%, to $113.68 per barrel.


As a result of Russia's invasion of Ukraine, EU foreign ministers were unable to convince Hungary to rescind its veto of a proposed oil embargo against the country on Monday. An embargo requires consent from all EU member states.


On the demand side, China's data revealed that the world's second-largest economy processed 11 percent less crude oil in April than a year earlier due to tight COVID-19 lockdowns, with daily throughput falling to its lowest level since March 2020 as refiners reduced operations in response to weaker demand.


The United States is scaling up production in order to refill stocks that have dwindled as a result of Russia's war on Ukraine, which Moscow refers to as a "special military operation," and the recovery from the coronavirus outbreak.


In June, oil production in the Permian in Texas and New Mexico, the largest U.S. shale oil region, is expected to increase by 88,000 barrels per day (bpd) to a record-breaking 5.219 million bpd, according to a study released by the U.S. Energy Information Administration (EIA) on Monday.


Monday's statistics from the U.S. Department of Energy revealed that the Strategic Petroleum Reserve now contains 538 million barrels, the lowest level since 1987.

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