USCBC Statement on Chinese Regulators' Rejection of Coca-Cola Acquisition

WASHINGTON, DC, March 18, 2009--The US-China Business Council (USCBC) issued the following statement today in response to the decision by China's Ministry of Commerce to reject The Coca-Cola Company's proposed purchase of China Huiyuan Juice Group Limited:

"We are disappointed with the decision but urge the public release of the decision's legal basis as quickly as possible so that there is a full understanding of the ruling and its implications for future investment proposals in China," said USCBC President John Frisbie. "Transparency is enormously important to investor confidence all over the world."

"At this time of global economic challenge, foreign direct investment is more important than ever in creating economic growth and jobs," Frisbie continued. "The US-China Business Council is working directly with the Chinese and United States governments to maintain open investment environments and support faster economic recovery."

The USCBC (www.uschina.org) is the leading organization of US companies engaged in business with the People's Republic of China. Founded in 1973, the USCBC provides extensive China-focused information, advisory, and advocacy services, along with events, to roughly 250 US corporations operating within the United States and throughout Asia.