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Anti-trust applications climb
By Wang Yanlin |
December 28, 2011, Wednesday
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Print Edition
Print Edition
CHINA received a 43 percent increase annually in anti-monopoly applications to 194 from January to mid-December due to more mergers and acquisitions, the Ministry of Commerce said yesterday.
Of the total, 179 applications were accepted, up 52 percent from a year earlier, the ministry said. It also said investigations into 160 of them have been completed, and the M&As in 94 percent of them approved.
Shang Ming, director general at the ministry's Anti-Monopoly Bureau, attributed the rising number of applications to the growing M&A activities, which are generally favored than direct investment. The complicated and uncertain economic conditions domestically and overseas have made investors more wary.
"M&As have become a major choice among foreign investors to tap into the Chinese market," Shang said at a press briefing yesterday.
"Also, people are getting more familiar with the anti-monopoly law and more companies are subject to the law. They all contribute to an increase in cases this year," Shang said.
This year China approved Nestle's plan to buy Hsu Fu Chi International, a Singapore-listed Chinese candy maker. It also agreed to Yum Brands' takeover of Little Sheep Group Ltd.
In 2010 China didn't approve Coca-Cola's bid to buy local fruit juice maker Huiyuan, which sparked a heated discussion of whether China used its anti-monopoly law to block foreign and private firms from growing.
But Shang reiterated the government has been using the anti-monopoly law, launched in 2008, fairly on all companies in the country.
Of the total, 179 applications were accepted, up 52 percent from a year earlier, the ministry said. It also said investigations into 160 of them have been completed, and the M&As in 94 percent of them approved.
Shang Ming, director general at the ministry's Anti-Monopoly Bureau, attributed the rising number of applications to the growing M&A activities, which are generally favored than direct investment. The complicated and uncertain economic conditions domestically and overseas have made investors more wary.
"M&As have become a major choice among foreign investors to tap into the Chinese market," Shang said at a press briefing yesterday.
"Also, people are getting more familiar with the anti-monopoly law and more companies are subject to the law. They all contribute to an increase in cases this year," Shang said.
This year China approved Nestle's plan to buy Hsu Fu Chi International, a Singapore-listed Chinese candy maker. It also agreed to Yum Brands' takeover of Little Sheep Group Ltd.
In 2010 China didn't approve Coca-Cola's bid to buy local fruit juice maker Huiyuan, which sparked a heated discussion of whether China used its anti-monopoly law to block foreign and private firms from growing.
But Shang reiterated the government has been using the anti-monopoly law, launched in 2008, fairly on all companies in the country.
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