As the Chinese government and many Chinese companies start looking for foreign companies to buy, including a possible bid for a U.S. manufacturer of computer hard drives, lawmakers in Beijing are about to pass legislation limiting foreign acquisitions in China on national security grounds.
After 13 years of debate and various drafts, the National People's Congress is poised to pass a broad anti-monopoly law. But while Western companies have welcomed many of the law's provisions, including limits on monopolistic behavior by state-owned enterprises, the final draft also has a last-minute addition: acquisitions by foreign companies "should go through national security checks."
Source: IHT, http://www.iht.com
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