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

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