China still welcomes foreign investment: minister

[Coventina]

Source: Reuters

BEIJING (Reuters) - China's commerce minister said on Sunday that the country was still open to foreign investment after the government rejected Coca-Cola's $2.4 billion bid to buy top Chinese juice maker Huiyuan.

Some Western media had interpreted this rejection as meaning "China did not welcome foreign investment, but this is a big misunderstanding," Commerce Minister Chen Deming told a forum in Beijing.

Chen said the rejection of the U.S. drinks giant's proposal had had nothing to do with China's investment policy, as both Coke and Huiyuan were technically foreign firms. Huiyuan is listed in Hong Kong and registered in the Cayman Islands.

He repeated the government's objection that a tie-up would have been bad for competition and hurt consumer choice.



Read more: http://www.reuters.com/article/newsOne/idUSTRE52L0H220090322

[FreakinDJ]

1. Yep - So the "Communist State" can seize it when CDOs fail

Sounds like the Communist Party would like to "Hedge their bets"