| MOFCOM Officials: Catalogs of Industries for Foreign Investment in China Were Under Preparation of Amendments |
| Friday,July 06,2007 Posted: 14:26 BJT(0626 GMT) chinafair |
Recently, Hu Jingyan, Director-General of Service & Trade Dept. of MOFCOM said related departments of our government were stepping up amending the catalog of industries of foreign investment. “According to the actual situation of the state absorbing foreign investment, there were some new changes in a number of fields and some matters. In “2007 China M&A Annual Conference” held in Tianjin, considering that there is no "Anti-monopoly Law" in China with the issue whether acquisition was easy to go out of control, Hu Jingyan said our government was highly concerned about whether merger would involve the country's economic security. Antitrust review must be conducted for some relatively large amount of mergers and acquisitions. He said that at present, every country in the world was relatively cautious of mergers and the Chinese government also actively prevented the industry or sector monopolies in the process of M & A. Hu Jingyan introduced last year, the amount of the activities with transnational investment entering China through mergers and acquisitions was USD4.7b. It accounted for 2.5% of the total amount of actually used foreign investment in China. |
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