Hutchison ports deal: China regulator warns parties not to circumvent probe
Advertisement
The warning from a spokesman for the State Administration for Market Regulation on Sunday was in response to a media question over a recent report that suggested the wealthy Italian Aponte family was looking to carve out two Panama Canal ports from the US$23 billion deal.
'We are highly concerned about the relevant transaction and will review it in accordance with the law,' the spokesman said.
'The parties to the transaction shall not circumvent the review in any way and shall not implement the concentration [of business operators] before approval, otherwise they will bear the legal responsibility.'
According to Article 20 of the mainland's Anti-Monopoly Law, 'concentration' refers to the merger of business operators, acquiring control over another by acquiring their equity or assets, or an operator acquiring control or influence over others with a contract or other means.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AllAfrica
5 days ago
- AllAfrica
EU capitulates to Trump in vassal-state trade deal
European Commission President Ursula von der Leyen agreed to a framework deal with the US whereby the EU will be charged 15% tariffs on most imports, commit to purchasing US$750 billion in US energy exports and invest $600 billion in the US economy, some of which will be military purchases. US tariffs on EU steel and aluminum exports will remain at 50% while the EU agreed not to tariff the US at all. The alternative to this lopsided arrangement was for Trump to impose his threatened 30% tariffs by August 1. The EU's macroeconomic strength was greatly weakened over the past 3.5 years as a result of the anti-Russian sanctions that it imposed in solidarity with the US on what had hitherto been its cheapest and most reliable energy supplier. It was therefore already at a critical disadvantage in any prospective trade war. The EU's failure to reach a major trade deal with China since Trump's return to office, evident during their most recent summit late last week, made Sunday's outcome a fait accompli in hindsight. The end result is that the EU just subordinated itself as the US's largest-ever vassal state. The US's 15% tariffs on most imports will reduce EU production and profits, thus making a recession more likely. The bloc's commitment to purchasing more expensive US energy will become more onerous in that event. Likewise, its pledge to buy more US arms will undermine the 'ReArm Europe Plan', with the combined effect of the aforesaid concessions further ceding the EU's already reduced sovereignty to the US. This, in turn, can embolden the US to press for better terms in its ongoing trade negotiations with other countries. On the North American front, Trump envisages reasserting the US' hegemony over Canada and Mexico via economic means, which can enable him to more easily expand 'Fortress America' southward. If he succeeds in subordinating Brazil, then everything between it and Mexico will naturally fall in line. This series of deals, along with last week's one with Japan, would bolster Trump's hand with China and India. He ideally hopes to replicate his Japanese and European successes with those two Asian anchors of BRICS, which together represent around a third of humanity, but it can't be taken for granted that he will. Trump's best chance of coercing them into similarly lopsided arrangements requires him to place the US in the most advantageous geo-economic position possible during their talks; hence, the need to rapidly build 'Fortress America' through a series of trade deals, and then prove that his tariff threats aren't bluffs. As explained in this analysis, this variable and the US's Kissingerian triangulation policy most significantly determine the future of their trade talks. If he fails, then Trump might not impose 100% tariffs on China and/or India, but some would still be expected. Nevertheless, with Japan, the EU and likely 'Fortress America' on his side, this 'Global West' could insulate the US from some of the consequences. The grand strategic importance of the EU subordinating itself as the US's largest-ever vassal state is therefore that it places the US on the path of restoring its unipolar hegemony via sequential trade deals as it likely sets its sights on the Americas next before finally taking on Asia. There's no guarantee that the US will succeed, and a series of lopsided trade deals with major economies would only partially restore US-led unipolarity, but Trump's moves still represent a possibly existential threat to multipolarity. This article was first published on Andrew Korybko's Substack and is republished with kind permission. Become an Andrew Korybko Newsletter subscriber here.
South China Morning Post
25-07-2025
- South China Morning Post
China to amend key law as push to stamp out vicious price wars intensifies
China plans to amend a decades-old pricing law as part of an ongoing campaign to curb the vicious price wars plaguing several industries – a deep-rooted issue that threatens to wipe out corporate profits and fuel deflationary pressure. The amendment, which covers 10 clauses in the law, updates the definition of unfair pricing practices to include 'involution-style' competition, according to a draft released by China's National Development and Reform Commission (NDRC) and the State Administration for Market Regulation on Thursday. The term 'involution' has become a buzzword in China that refers to the excessive, cutthroat style of competition that has emerged in several industries, as companies facing weak domestic demand and oversupply problems slash prices in a bid to attract customers. The trend has become a serious concern for Beijing in recent months, with Chinese officials repeatedly vowing to stamp out the price wars and criticising companies that engage in 'disorderly' styles of competition that risk undermining economic growth. As China's economic landscape had undergone profound changes, the pricing law that originally came into effect in 1998 needed to be updated, government agencies said in a statement. 'With new economic forms and business models continuing to emerge, some industries have seen prominent cases of disorderly low-price competition, creating new demand for price regulation and oversight,' the statement said. The amendment, which is open for public comment until August 23, adds a new clause stating that businesses shall not force other operators to dump products at below-cost prices. Previously, the law only banned firms from selling goods below cost to eliminate competitors or monopolise the market.
South China Morning Post
24-07-2025
- South China Morning Post
The biggest high jewellery drops of 2025: from Louis Vuitton's Virtuosity and Chanel's Reach for the Stars, to Cartier's En Équilibre and Tiffany & Co.'s Sea of Wonder
High jewellery season is, to be sure, the most exhilarating romp through the world's most glamorous and exotic locations as the top maisons set out to woo their top clients. With good reason too. In a luxury slump, jewellery – and especially high jewellery – remains a bright (and glittering) spot. According to research released by global consultancy Bain as well as the Altagamma Foundation, an association of Italian luxury brands, luxury spending as a whole declined by 1 to 3 per cent in 2024. Jewellery, however, grew by up to 2 per cent, making it the most resilient core luxury category. High jewellery – the pinnacle of craftsmanship and exceptional gemstones – performed particularly well. This year's high jewellery collections – from the likes of Cartier, Chaumet, Bulgari, Louis Vuitton and Chanel – transported clients to desirable locales, from Stockholm to Marbella. Inspirations behind the collections took to the stars and the sea, to the ephemeral quality of nature and philosophies of balance. Exceptional gemstones, a given in high jewellery, were particularly on show, from showstopping sapphires at Bulgari, to extraordinary electric Tiffany Blue cuprian tourmalines. Virtuoso techniques shone too, as seen in carved moonstones at Tiffany & Co., transformable pieces at Chaumet, and haute horology at Bulgari. Here are just a few highlights of a spectacular season. Nature in full bloom Emilia Clarke wears the Chaumet Wild Rose transformable necklace at the launch of the Jewels by Nature high jewellery collection in Marbella, Spain, in June. Photo: Handout Advertisement As always, the beauty of nature in motion was a key source of inspiration. Chaumet hosted guests in Marbella, Spain, in June to celebrate its Jewels by Nature collection. A botanical take on nature has long influenced the storied maison. Indeed, founder Marie-Étienne Nitot described himself as a 'jeweller-naturalist', so passionate was he about plants. Chaumet's take on nature is realistic and organic, and could be seen in pieces worn by VIP guests such as Game of Thrones' Emilia Clarke, who wore the Wild Rose transformable necklace in white gold, set with an 8.23-carat emerald-cut yellow diamond. Individuality brooch from the De Beers Forces of Nature collection. Photo: Handout Nature is also at the heart of De Beers' latest collection – its largest yet. While Forces of Nature was launched last year, chapter two debuted in June. The landscape and animals of southern Africa – a region close to the maison's heart – are at the centre of the collection. Diamonds of all shapes, cuts and hues, both polished and rough, are celebrated, including some from the Natural Works of Art collection – the rarest in the house's possession. Checks and balances Cartier En Équilibre Tsagaan necklace. Photo: Handout Cartier eschewed more typically luxurious – and sunnier – choices for a high jewellery event in May by whisking guests off to moody Stockholm. The Swedish capital was a most deliberate choice, as Cartier senior vice-president and chief marketing officer Arnaud Carrez explained to guests at the lavish launch of En Équilibre (In Balance). 'We chose Stockholm not for the weather, but we do believe this city embodies the perfect balance between tradition and innovation, urban life and nature, and also comfort and durability,' he said. The choice of location was apt for a 113-piece collection that explores the French maison's ideas of balance in jewellery – in terms of shape, colour and composition. Many pieces toy with both the figurative and the abstract. One such highlight – and an addition to Cartier's treasured bestiary – is the Tsagaan snow leopard necklace in white gold, white diamonds and onyx.
