On April 9th, 2021, the fifth keynote speech of the “Fudan Transnational Corporations and Law Forum” and the third episode of this Forum’s special series of “TNCs and International Investment Agreements” was held successfully online. The speech titled “Legal Means to Regulate Data Monopoly of TNCs: The EU’s Approach” was delivered by Dr. ZHANG Sheng, Professor of Xi’an Jiaotong University School of Law and the Executive Secretary of the Permanent Forum on China International Investment Arbitration. 

Firstly, Professor ZHANG briefly introduced the definition and the impacts of “data monopoly” by transnational giant techs, especially the challenges they brought to the present legislative concepts of antitrust law that center around “price.” Then, Professor ZHANG analyzed the legal measures and policies of the EU to regulate different types of “data monopoly” or “data advantage” of Big Techs, with detailed illustrations of the representative cases of “Google,” “Amazon,” and “Apple.” In the three market investigations, the EU targeted different categories of digital giants’ market behaviors and took differentiated measures. Given the EU’s priorities over fines, rather than non-financial remedies such as the divestiture of a business, imposed upon Big Techs, as well as the EU’s pursuit of a leading role in searching digital sovereignty that has led to competition-promotive measures, Professor ZHANG emphasized the necessity to balance the protection of privacy, fair competition, and innovation. In the last part, Professor ZHANG discussed the lessons that China could learn from the legislation and practices of the EU to regulate the imbalanced market power of Big Techs. 

The special commentators of this speech, Professor MA Zhongfa of Fudan University Law School and Senior Lecturer MA Ji of Peking University School of Transnational Law, contributed insightful views on the history of international law on the regulation of new technologies, the emergence of regulation of data usage, and various approaches that have been adopted by countries, etc. This speech was highly appreciated by the audience and generated thoughtful interactions between the speaker and some participants in the Q&A session.  

Next Friday, April 16th, the Forum will host the sixth keynote speech titled “International Law-Making in Regulating TNCs and Information Technology: A Case Study of Huawei’s Participation in the Development of 5G Standard” by Assistant Professor SU Yu of Xiamen University School of Law.