Official rejects anti-trust law bias
By Wang Yanlin |
August 14, 2010, Saturday
|
Print Edition
Print Edition
China has treated foreign companies fairly when implementing the country's anti-monopoly law, a senior official of the Ministry of Commerce has said, refuting claims from business groups that accused the government of favoring state-owned enterprises over other players in the market.
"Analyzing superficially, it is true that all cases we blocked or attached restrictive conditions upon involved overseas firms," Shang Ming, director of the anti-monopoly bureau under the ministry, said in Beijing on Thursday.
"But that doesn't mean any discrimination or bias exists in the implementation of the law. It is only a reflection of the real situation."
Shang said the reasons for this included the wealth requirement for companies that are put under review, which automatically removes many Chinese firms.
According to the anti-monopoly law, enterprises whose global annual revenue reach 10 billion yuan (US$1.47 billion) with at least two businesses in China, whose sales touch 400 million yuan, must seek government approval for any proposed acquisition.
Also, active mergers and acquisitions among multinational firms after the global financial crisis make them very apparent targets that draw attention, Shang said.
Since the law was enforced two years ago, the bureau has examined more than 140 cases, among which five faced restrictive conditions for mergers and one was rejected -- Coca-Cola's 2008 bid to acquire Chinese fruit juice maker Huiyuan.
His remarks were made one month after the United States Chamber of Commerce called on China to implement its anti-monopoly law in a non-discriminatory and transparent manner.
"Analyzing superficially, it is true that all cases we blocked or attached restrictive conditions upon involved overseas firms," Shang Ming, director of the anti-monopoly bureau under the ministry, said in Beijing on Thursday.
"But that doesn't mean any discrimination or bias exists in the implementation of the law. It is only a reflection of the real situation."
Shang said the reasons for this included the wealth requirement for companies that are put under review, which automatically removes many Chinese firms.
According to the anti-monopoly law, enterprises whose global annual revenue reach 10 billion yuan (US$1.47 billion) with at least two businesses in China, whose sales touch 400 million yuan, must seek government approval for any proposed acquisition.
Also, active mergers and acquisitions among multinational firms after the global financial crisis make them very apparent targets that draw attention, Shang said.
Since the law was enforced two years ago, the bureau has examined more than 140 cases, among which five faced restrictive conditions for mergers and one was rejected -- Coca-Cola's 2008 bid to acquire Chinese fruit juice maker Huiyuan.
His remarks were made one month after the United States Chamber of Commerce called on China to implement its anti-monopoly law in a non-discriminatory and transparent manner.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
