the chinese govs official stance on monopolies, page-3

Here is an excerpt from an important speech made by the Chinese Ambassador. A longish read, but it specifically deals with the FIRB situation and mentions OZ, so I hope that Mr Swann is hearing what is being said from the other side. (For all the zenophobes: If the US President said this, we would be gushing in praise of his far-sighted global outlook.)

On the evening of March 17th, 2009, H.E. Mr. Zhang Junsai, the Chinese Ambassador to Australia, hosted a reception at the Chinese Embassy for the delegates of Australia China Business Council at their Annual Meeting in Canberra, and delivered a speech entitled China and China-Australia Economic Cooperation in the Global Financial Crisis.

...... The first principle is mutual benefit and win-win cooperation. The Chinese always stand for mutual benefit and win-win cooperation as this is the only way to secure a long-term cooperative relationship. China adopts an open attitude towards Australian investment and has taken various measures to protect Australian companies' interests in China. We hope that Australia will treat Chinese companies in a fair and just way and facilitate their investment here. A relationship solely built on trade and without mutual investment is not a sound and stable economic relationship. It is against the win-win principle.

Second, in the bilateral area, we need to step up our trade and mutual investment. Recently we have seen several intended investments by Chinese companies in Australia, such as the strategic cooperation between Chinalco and Rio Tinto, Minmetal's takeover bid of OZ Minerals, and Hualing Group's Acquisition of FMG stakes.

These three investments will bring mutual benefits. For Australia, they will not only solve the companies' capital shortage, but also facilitate their development in the Chinese market to promote Australia's economic growth. For Chinese companies, they will draw on their Australian partners' advanced managerial expertise and access stable and reliable supply of resources.....

......Regarding some skeptical about Chinese investment, Ambassador Zhang clarified that these three SOEs follow market rules and are accountable to shareholders. Some of them are already publicly listed companies. The government does not interfere in their operation. Chinalco and other Chinese SOEs' investment in Australia are their independent decisions based on market demand and are aimed at companies' further growth. The argument that Chinese SOEs are government controlled and intend to monopolize Australia's energy and resource industry to exert influence on pricing is nonobjective. Such is not possible. Nor does China have the intention to do so.

The full text is at http://www.fmprc.gov.cn/eng/wjb/zwjg/zwbd/t543236.htm