China, US to share M&A information

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China and the United States signed an agreement in Beijing on Wednesday to increase information sharing between government agencies on cross-border mergers and acquisitions.

The nations aim to enhance exchanges on developments and potential changes to competition policy and law, according to the memorandum of understanding signed by the US Federal Trade Commission, the US Department of Justice, China's National Development and Reform Commission, China's Ministry of Commerce and China's State Administration for Industry and Commerce.

China and the US have sought to strengthen ties as trade between the nations quadrupled in the past decade, and China passed Japan in 2008 to become the biggest holder of American debt.

The US and China will also cooperate on training programs, workshops, study missions and internships. Each of the agencies plans to appoint a liaison for facilitating contact.

China's commerce ministry received more than 130 merger and acquisition applications in 2010, "much more" than the previous year.

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