Released on = September 2, 2007, 3:34 pm

Press Release Author = William J Hallenbeck/China Finance Centre

Industry = Financial

Press Release Summary = China Finance Centre's newly formed China America Trade
Association policy body issues statement supporting China's passage of its first
ever anti-monopoly law. CFC sees law as vitally important to the advancement of US
- China commerce.

Press Release Body = CHINA FINANCE CENTRE, the New York based multimedia and trade
exposition center expanding business ties between China and the United States, has
announced its support of the new anti-monopoly law adopted by China's legislature
last week. The statement was issued by the China America Trade Association
("CATA"), CFC's newly established policy body concerned with commercial issues
impacting trade between the U.S. and China.

In announcing the CFC position, CFC president William J. Hallenbeck noted that
"China clearly needs a broad-based anti-monopoly law as it seeks to reduce the size
of the state-owned industries that once monopolized its entire economy. This first
ever law represents an effective step toward accomplishing this vital goal."
The new law was adopted on Thursday by the Standing Committee of the National
People\'s Congress (NPC), China\'s national legislature. The anti-monopoly law is
designed to ensure fair competition and regulate market order. The law, which took
13 years to adopt, will become effective on August 1, 2008.
Among the law's provisions is a requirement that requires foreign purchasers of
Chinese companies to be subjected to national security checks. This has sparked
expressions of concern by some US and EU business groups. It is CFC's position that
the national security provisions largely parallel those followed in most countries.
Hallenbeck observed, " All countries must be concerned with certain implications of
acquisitions of domestic companies by foreign purchasers. However, on balance,
China's new law is mainly designed to break down the monopoly powers of state owned
enterprises, offering many opportunities for U.S. businesses. This is of fundamental
and critical long term importance to American interests."

CHINA AMERICA TRADE ASSOCIATION
Policy Division of China Finance Centre

Statement In Support of China's Anti-Monopoly Law

China America Trade Association "CATA"), the policy division of China Finance Centre
of New York, fully supports the actions of the Standing Committee of the National
People\'s Congress (NPC), China\'s national legislature, in adopting the country's
first ever anti-monopoly law.
CATA views the new anti-monopoly law as a positive step, which, having taken
thirteen years to draft, has been carefully designed to ensure fair competition and
regulate market order throughout China's economy.
It is noted that certain concerns have been raised by some international
organizations about the national security review process to which foreign investors
may be subjected if they acquire domestic enterprises. CATA views this issue as a
proper matter for review by any national government, it being presumed that such
reviews will be administered in accordance with appropriate standards and
limitations.
About CHINA FINANCE CENTRE (CFC)

CHINA FINANCE CENTRE (CFC) is a first of its kind, permanent conference/trade
exposition facility, specifically designed to assist, increase and expand investment
and business opportunities between China and the U.S. CFC has been developed as a
world class, state of the art China Business Exposition- Conference Center and
information resource. The China America Trade Association functions as CFC's policy
division concerned with commercial issues impacting trade between the U.S. and
China.


WJ Hallenbeck
President
China Finance Centre
515Madison Ave
New York, NY 10022
Tel 9145880216
Fax 8019269269
eMail: wjhalle ( @ ) attg dot net
Web : www.chinafc.net



Web Site = http://www.chinafc.net `

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