Anti-Monopoly Law Passed in China

Channel News Asia reports:

China's parliament on Thursday passed an anti-monopoly law placing new restrictions on foreign purchases of Chinese companies and sparking expressions of concern by US and EU business groups.

China's first anti-monopoly law will require a national security investigation as well as monopoly checks when foreign companies seek to merge with or take over Chinese enterprises in certain sectors.

It was passed on Thursday by the Standing Committee of the National People's Congress, and will take effect on August 1 next year.

Analysts have said the new measures were prompted by fears that growing foreign investment could lead to too much outside control of Chinese industry.

To read more:

http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/296924/1/.html