Anti-Monopoly Law Passed
China has announced the passing of its anti-monopoly law (which will come into force on 1 August, 2008), but it is perhaps a bit too early to say what it all means. In the enlightening words Dan Harris at China Law Blog:
“The big question is how this new law will impact foreign businesses that are in or doing business with China and my unequivocal answer is that I am not prepared to say.”
Well put!
I am in Beijing at the moment, and saw the news in as the main headline in China Daily. I was interested to note the sub-heading: “Foreign mergers or acquisitions of local firms face strict checks”. The protection of strategic interests is clearly high on the agenda. As Dan points out, it will all come down to application. And for that we will have to wait and see. In the meatime, Dan has provided some useful links on the subject.
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