U.S. Treasury Secretary Jacob Lew warned his Chinese counterpart in a recent letter that a spate of antimonopoly investigations against foreign companies could have serious implications for relations between the two countries, according to people briefed on its contents.
The letter, which Mr. Lew sent in recent days to Chinese Vice Premier Wang Yang, said that China’s recent focus on foreign companies could devalue foreign intellectual property, the people said. It also made reference to a meeting in July attended by Messrs. Lew and Wang, at the Strategic and Economic Dialogue forum in Beijing, at which China committed to using its monopoly laws to promote consumer welfare and not other companies or industries, the people said.
Representatives for China’s cabinet, to which Mr. Wang belongs, didn’t respond to requests for comment on Sunday. Previously, Chinese officials have said they treat foreign and domestic companies equally. Xu Kunlin, a senior antimonopoly official at the National Development and Reform Commission, China’s top economic-planning body, said at a media briefing Thursday that foreign companies accounted for about 10% of antimonopoly cases.
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Laurie Burkitt and Bob Davis, Wall Street Journal via CHINA US Focus http://ift.tt/1qEsL4P
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