On June 12, 1965, in order to communicate more efficiently and conveniently with foreign merchants and related domestic institutions, MOFTEC
decided to standardize the names of foreign trade companies.
From April to November 1995, the MOFTEC
had cut off the business license of those JVs in which foreign partners had not placed registered capital in time and in which there was no real foreign investor.
, Statistical Bulletin of China's Outward Foreign Direct Investment 2007, Beijing 2008.
China Resources Enterprise, also owned by MOFTEC
, is another
But in an apparent bid for antitrust leadership, MOFTEC
tacked on four cryptic articles sketching out a pilot merger review scheme for certain "mergers/acquisitions of domestic enterprises by foreign investors" and for undefined "offshore mergers and acquisitions." (43) Despite widespread confusion as to the requirements (and skepticism as to their relevance), MOFCOM gradually ramped up its merger review efforts.
Even though, since 1997, international joint ventures are no longer the main FDI entry mode in China in terms of dollar value, particularly comparing with acquisitions and wholly-owned subsidiaries (MOFTEC
Bulletin, 2001), they remain an important FDI channel for various strategic reasons.
For example, as illustrated in Figure 3, the Ministry of Commerce (formerly MOFTEC
), the Ministry of Transport, the CAAC, and customs, among others, all have major influence on foreign airlines and freight forwarders.
Throughout the 1980s and 1990s, about 70% of FDI in China took the form of JVs including EJVs and CJVs (MOFTEC
, various years).
(23.) Based on 2001 statistical data on trade in the official website of the Ministry of Foreign Trade and Economic Cooperation, PRC, <http://1.moftec.gov.cn/ moftec
Shih Guangsheng, head of the Ministry of Foreign Trade and Economic Cooperation (MOFTEC
), for example, lashed out at the Bush administration's move to levy additional tariffs on certain steel imports as a "new form of protectionism" contravening the tenets of international free trade.
The aid, part of a Euro 20.6 million, five-year scheme co-financed by China's Ministry of Foreign Trade and Economic Co-operation (MOFTEC
), is aimed at helping integrate the country into the international trading system, even though it formally became a WTO member in November 2001.
Those regulations would have required both Chinese and foreign-invested express companies, including those that already held licenses from China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC
), to apply for operating authority from China Post.