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 Thursday, August 30, 2007 |
China legislature passes anti-monopoly law
Joshua Pantesco at 10:47 AM ET
[JURIST] The Chinese National People's Congress [official website, in Chinese] passed anti-monopoly legislation [press release, in Chinese] Thursday aimed at protecting China's economic security and easing the Chinese economy away from state-run monopolies. The new law establishes a series of national security checks for when a foreign company acquires or invests in a domestic company and the transaction involves a national security issue. A Chinese economist told AFP that the new law indicates a policy shift away from preferential treatment of foreign investors. The new law will take effect Aug. 1, 2008.
The European Chamber of Commerce in China applauded the anti-monopoly law [press release] as a move towards a free-market system in China, and requested further clarification on what the new law would require of foreign investors. AFP has more. Xinhua has local coverage.
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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.
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