China: Probes not biased against foreign firms, says state media

Despite recent reports that Chinese antitrust officials are cracking down against foreign companies accused of anticompetitive behavior, state media said.

Official media from China Daily reported Tuesday that recent efforts to intensify competition policy and crack down on price-fixers is not related to a crackdown against foreign firms. The reports contradict recent investigations against foreign companies, the most high profile of which is the sanctions against foreign infant milk formula companies for price-fixing. Fines reached a new record for Chinese officials, reports said. Further, just last week reports said a top-level official pressured heads of foreign companies to come forward with any antitrust violations in a closed-door meeting.

State media refutes the claim, however, and said that “there is no such thing as specially targeting foreign companies.” Media quoted an anonymous source from the National Development and Reform Commission.

Full Content: Reuters

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