China: MOFCOM at it again with semi-conductor raids

China’s Ministry of Commerce has launched a new antitrust investigation into various semi-conductor firms, its latest probe amid several other ongoing investigations by the nation’s three competition watchdogs.

MOFCOM issued a statement Thursday announcing that it had visited the offices of various semi-conductor companies in Shanghai as part of an investigation, though the regulator did not elaborate on the exact reason for the visits.

In a statement, MOFCOM said the visits “deepened our understanding of the competitive environment in industries such as semi-conductors and medical devices.” According to reports, China is preparing to consolidate various domestic industries, including healthcare and dairy, to strengthen their positions against foreign competitors.

Some industry experts say China is soon to see a wave of mergers and acquisitions within the medical devices sector. The semi-conductor industry could soon follow, reports say.

Full content: Reuters

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