China: Domestic cement makers fined as EU lobby fires at China’s antitrust policy
Chinese competition regulators announced fines of $18.6 million issued to several domestic cement companies for fixing prices, a decision that emerges as foreign companies and lobbyists criticize China for allegedly using biased competition policy to promote domestic industries.
China’s National Development and Reform Commission issued a statement Tuesday announcing the fines sanctioned against units of China National Building Material, Jilin Yatai Group and Tangshan Jidong Cement. In recent weeks, national media and officials have defended the nation’s recent competition crackdown, claiming that regulation is equally aimed at domestic and foreign companies.
The US Chamber of Commerce this week released its report on the matter, suggesting that China is harming both itself and the global markets through its shortcomings in antitrust regulation.
On Tuesday, European business lobby, the EU Chamber of Commerce in China, released the latest criticism against China’s antimonopoly legislation, claiming that China’s harsh tactics is making the market unattractive for foreign investors.
”The problem with the recent cases [in China] is that they are so in-transparent that it leaves a lot of speculation about the possible intention,” the Chamber said. “Certainly the mood sours.”
Full content: Reuters and The Daily Mail
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Nigerian Court Confirms Consumer Protection Commission’s Authority Over Telecom Sector
Feb 10, 2025 by
CPI
Microsoft Under French Antitrust Investigation Over Bing Practices
Feb 10, 2025 by
CPI
Hausfeld Grows Antitrust Litigation Team
Feb 10, 2025 by
CPI
Microsoft Seeks to Ease EU Antitrust Concerns With Office Pricing Adjustment
Feb 10, 2025 by
CPI
South Korea Flags Chinese AI App DeepSeek Over Data
Feb 10, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon