Posted by Social Science Research Network
Nuking Misconceptions: Hinkley Point, Chinese SOEs and EU Merger Law
Alan Riley (Institute for Statecraft)
Abstract: As Chinese outbound investment and acquisitions of European and other western assets reach hitherto unseen dimensions, the European Commission and other antitrust regulators are being called upon to assess the competitive impact of acquisitions by Chinese SOEs. A critical threshold issue, with both jurisdictional and substantive implications, is whether Chinese SOEs have a power of decision independent of the Chinese state. The EU Merger Regulation provides a clear framework for examining the independence of SOEs, regardless of their nationality. But the Commission’s case law as it pertains to Chinese SOE acquirers, up until very recently, failed to come to terms with the extensive evidence of multifaceted state control exercised by Beijing over its SOEs. In its March 2016 decision in the Hinkley Point case, the Commission has begun to take the bull by the horns. It is submitted, however, that the European antitrust regulator still has some way to go: evidence of the deeply pervasive nature of Communist Party and Chinese state influence over SOEs in the Middle Kingdom is extensive and can no longer be ignored.
Featured News
Polish Regulators Probe PS Store and Steam for Antitrust Violations
May 15, 2024 by
CPI
French Regulator Meat-Cutting Sector Case Following Antitrust Review
May 15, 2024 by
CPI
Arizona Attorney General Files Suit Against Amazon Over Unfair Business Practices
May 15, 2024 by
CPI
Varsity Spirit and Private Equity Owners Settle Class Action Antitrust Suit
May 15, 2024 by
CPI
US Senators Present AI Strategy, Call for Funding Surge
May 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI