The implementation of China??s anti-monopoly law: A case on Coca-Cola??s abortive acquisition of Huiyuan Juice

In 2009 after a six-month investigation, the case regarding Coca-Cola Company’s acquisition of Huiyuan Juice Co., Ltd. (Huiyuan Juice) ended when the Ministry of Commerce of the People’s Republic of China (MOFCOM) rejected this acquisition. This is the first anti-monopoly case since the implementation of Anti-Monopoly Law of China (the “AML”). Foreign acquisitions introduce capital, technical and management experience into China, while they also impair competition in China and lead to the disappearance of some Chinese national brands. In recent years, a series of foreign acquisitions attract extensive attention and even controversies. This phenomenon should be addressed rationally. Following the case concerning Coca-Cola’s attempted acquisition of Huiyuan Juice, this article first assesses the pros and cons of foreign acquisitions, and then analyzes foreign acquisitions by the specific requirements of the AML, pointing out the rationalization, grounds and complexity of the law applicable to foreign acquisitions.