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US Treasury Secretary raises objection against China's antitrust probes
US Treasury Secretary Jack Lew has warned the Chinese government that a recent spate of antitrust investigations against foreign companies could have serious implications for US-China relations, reported the Wall Street Journal.
Mr Lew sent a letter to Chinese Vice Premier Wang Yang, saying China's recent focus on foreign companies could devalue foreign intellectual property.
Representatives of the Chinese cabinet did not respond to requests for comment, and the US Treasury declined comment when asked to confirm the report.
"We regularly correspond with our international counterparts on a variety of issues," a Treasury official said.
At least 30 foreign firms, including US companies such as Microsoft and chip maker Qualcomm have come under scrutiny as China seeks to enforce a 2008 anti-monopoly law that some critics say is being used to unfairly target foreign firms.
Several foreign chambers of commerce have complained that foreign companies are being unfairly targeted by probes motivated by China's industrial policy aims to concerns over the use of strong-arm tactics by Chinese regulators.
But China's anti-monopoly regulators said recently they are not targeting multinational firms and the enforcement work is fair and transparent.
China's Premier Li Keqiang has said that only 10 per cent of companies impacted by anti-trust investigations are foreign.
Mr Lew sent a letter to Chinese Vice Premier Wang Yang, saying China's recent focus on foreign companies could devalue foreign intellectual property.
Representatives of the Chinese cabinet did not respond to requests for comment, and the US Treasury declined comment when asked to confirm the report.
"We regularly correspond with our international counterparts on a variety of issues," a Treasury official said.
At least 30 foreign firms, including US companies such as Microsoft and chip maker Qualcomm have come under scrutiny as China seeks to enforce a 2008 anti-monopoly law that some critics say is being used to unfairly target foreign firms.
Several foreign chambers of commerce have complained that foreign companies are being unfairly targeted by probes motivated by China's industrial policy aims to concerns over the use of strong-arm tactics by Chinese regulators.
But China's anti-monopoly regulators said recently they are not targeting multinational firms and the enforcement work is fair and transparent.
China's Premier Li Keqiang has said that only 10 per cent of companies impacted by anti-trust investigations are foreign.
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