Arab Today, arab today feeling like \scapegoat\ not to help foreign firms win in chinese market
Last Updated : GMT 19:38:48
Arab Today, arab today
Arab Today, arab today

Feeling like \'scapegoat\' not to help foreign firms win in Chinese market

Arab Today, arab today

Arab Today, arab today Feeling like \'scapegoat\' not to help foreign firms win in Chinese market

Beijing - XINHUA

China\'s crackdown on business malpractice in efforts to build a healthy economy has drawn complains from certain foreign media as the move involved probes into and penalties on some foreign multinationals. The Washington Post said in a recent article that foreign companies in China said \"they feel like scapegoats\" as the Chinese government is, in part, attempting to \"deflect attention from China\'s own domestic food-and drug-safety concerns.\" Beijing\'s determination to create a better investment climate, followed by effective measures, can indeed make some foreign companies feel the pain, but only those who ignore the laws of China. Given their wrong-doings were verified with hard evidence, those companies that have been probed and punished are not in a very strong position to complain about it, and \"feeling like scapegoats\" will not help them correct their malpractices and make a healthier and more robust development in China. More importantly, the \"scapegoats,\" which can hardly be proved innocent, are not the victims here, the Chinese consumers are. Probes showed that British pharmaceutical company GlaxoSmithKline (GSK) used travel agencies to offer large bribes to government officials, medical associations and doctors while doing businesses in China in order to expand its market share and boost the prices of its medicines. As a result, consumers were paying about 30 percent more for drugs because of the bribery. The British drugmaker has admitted that its executives had broken the Chinese law. Chinese authorities have also fined six baby formula producers a total of 670 million yuan (108 million U.S. dollars) for price-fixing. An anti-trust probe launched in March showed that those milk powder makers, including Mead Johnson and Dumex, set minimum resale prices for distributors and punished distributors who sold their products at lower prices by suspending supplies or ending contracts. The infant milk producers all said they respected the penalties and would take remedial measures and strengthen law-abiding consciousness. Foreign companies in China are not \"scapegoats\" as described by the Washing Post. Instead, they were punished because they took advantage of the loopholes in the Chinese law to pursue high profit. If these unlawful acts happened in other countries, they would also face punishment. Just one year ago, the U.S. Department of Justice said GSK had agreed to plead guilty and pay 3 billion U.S. dollars to resolve its liability from the unlawful promotion of certain drugs, its failure to report safety data and alleged false price reporting. Unlike what the Post quoted a leading U.S. businessman, who asked not to be identified, as saying that foreign companies are \"an easy target,\" China launched probes into these multinationals in an attempt to fight business corruption and market monopoly. Any companies, if they break the law, have to pay the price no matter they are foreign or domestic ones. The six baby formula producers that will pay fines for price fixing and anti-competitive practices also include Chinese infant milk company Biostime International Holdings. Yes, China is still a developing country, where failure to abide by the law happen occasionally and \"hidden rules\" are sometimes more effective than regulations. But laws and regulations have been gradually improved since the reform and opening-up in the late 1970s. China\'s probe into multinationals issues a warning to both foreign and Chinese companies that the country\'s market order will become more fair, standard and clear. If a company wants to do long-term business in China, it should comply with the regulations here and give up the dream of challenging the Chinese law for profiteering. Enditem

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today feeling like \scapegoat\ not to help foreign firms win in chinese market Arab Today, arab today feeling like \scapegoat\ not to help foreign firms win in chinese market

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today feeling like \scapegoat\ not to help foreign firms win in chinese market Arab Today, arab today feeling like \scapegoat\ not to help foreign firms win in chinese market

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday