China: Foreign Ministry defends controversial antitrust strategy

China’s Foreign Ministry issued a statement Tuesday defending the nation’s antitrust agenda in the wake of increasing concern over recent competition probes into foreign companies by Chinese regulators.

According to reports, a spokesperson for the ministry said the ongoing investigations are “open and fair” despite claims that China is unfairly targeting foreign companies in its competition investigations. “China will as always welcome foreign corporations to participate in the Chinese market,” the spokesperson said. “China is ready to offer sound market conditions; meanwhile, we also require they obey Chinese laws.”

The statements coincided with the latest round of criticism over China’s expression of its antitrust laws as business lobby the American Chamber of Commerce in China issued a report in response to authorities’ probes into at least 30 foreign companies.

A survey conducted by the lobby showed that there are growing perceptions that foreign companies are facing “selective and subjective enforcement” through “legal and extra-legal approaches” within China.

The nation’s Ministry of Commerce, State Administration for Industry and Commerce, and National Development and Reform Commission are the three agencies that conduct competition probes.

Full content: Reuters

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