Mofcom: China has the right to veto two extension cases

The Chinese Commerce ministry yesterday said it would co-operate with another big iron ore giant BHP Billiton, the Australian ore giant Rio Tinto. According to CCTV, the Ministry of Commerce said yesterday that BHP Billiton and Rio Tinto established a new joint venture iron ore Company, if it complies with the PRC anti-monopoly Law and the State Council regulations on concentration reporting standards for operators, it should be declared to the Ministry of Commerce according to law. The Ministry of Commerce will conduct an antitrust review of the centralized transactions in accordance with the declared standards and make corresponding decisions.　　So far, the Ministry of Commerce has not received a declaration from BHP Billiton and Rio Tinto. Ma Yu, director of the Foreign Research Department of the Ministry of Commerce, said: In accordance with the relevant provisions of our national anti-monopoly law, if such overseas operators focus on our domestic market competition has a limited or exclusionary effect, we can veto such a merger agreement, the two Billiton related to the merger of the information should also be reported to our country for approval. "Ma Yu said:" If the other side in spite of the Chinese government's opposition forced to set up a joint venture, then it and China trade, the Chinese government can take certain trade sanctions. ”