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China's SAMR blocks LPG joint venture in Foshan over competition concerns

( January 23, 2026, 03:38 GMT | Official Statement) -- MLex Summary: China’s State Administration for Market Regulation has prohibited a proposed joint venture involving five liquefied petroleum gas companies in Foshan’s Nanhai district, Guangdong Province, saying the deal would harm competition in the local bottled LPG market. The parties include Foshan Nanhai District Nanguan Gas and Foshan Nanhai District Hongda LPG Company‌. In the decision announced on Thursday, the regulator said the transaction would eliminate independent competition among the parties and give the combined entity a market share exceeding 60 percent. The companies failed to submit remedies within the required timeframe and did not show that any pro-competitive benefits would outweigh the harm. SAMR said it opened an antitrust review of the voluntary merger filing in July 2025 and decided on Nov. 26, 2025, to extend it to an in-depth review.Statement follows (in Chinese)....

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