China Adopts Anti-monopoly Law – Xinhua

From Xinhua:

Foreign acquisitions of Chinese companies will be subject to stringent new checks intended to protect China’s economic security under a new law passed on Thursday.

After 13 years on the drawing board, the Anti-Monopoly Law passed by the Standing Committee of the National People’s Congress (NPC), China’s top legislature, winning 150 out of the 153 votes, will come into effect on Aug. 1, 2008.

“As well as anti-monopoly checks stipulated by this law, foreign mergers with acquisitions of domestic companies or foreign capital investing in domestic companies’ operations in other forms should go through national security checks according to relevant laws and regulations if the cases are related to the issue,” it reads. [Full Text]

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