China Probes Called Intimidation as Europeans Cry Foul

Tensions in China’s foreign business community escalated to new highs after European companies protested that local authorities involved in an antitrust crackdown are abusing their power through intimidation tactics.

China Probes Called Intimidation as Europeans Cry Foul Iyetr27q49_I

China Probes Called Intimidation as Europeans Cry Foul Iyetr27q49_I

Chinese investigators are picking on foreign companies, pressuring them into accepting punishments and depriving them of full hearings, the European Union Chamber of Commerce said yesterday in a statement, without naming anyone. Representatives at the chamber, which has about 1,800 members in the country, declined to elaborate on any specifics beyond the statement.

Business sentiment is deteriorating in China as dozens of foreign companies, including Germany’s three biggest luxury carmakers, are being targeted in the country’s broadest antitrust investigation since the nation’s anti-monopoly law went into effect six years ago. The probes, focusing on the car industry, have also involved Japanese automakers and General Motors Co.

“Foreign companies in China used to enjoy a lot of incentives but there’s a sense that this era is gone,” said Kelly Liu, a consultant at the law firm of Carroll, Burdick & McDonough LLP in Beijing. “China is still a good investment in the mid-to-long term, versus mature markets, but the rules of the games have changed, and the environment is no longer as loose and incentives-driven as before.”

http://www.bloomberg.com/news/2014-08-13/europe-chamber-urges-china-to-be-consistent-in-antitrust.html
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China Probes Called Intimidation as Europeans Cry Foul

China Probes Called Intimidation as Europeans Cry Foul

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