Break up ‘unnatural and abnormal’ monopolies to sustain high growth, US-China business group head urges Beijing

China should break up the state monopolies which dominate nearly half of its economy to create a level playing field for both foreign firms and private Chinese companies, the president of the US-China Business Council says. The power of monopolies in China is “very unnatural and abnormal” compared with other countries, Craig Allen said in an interview with the South China Morning Post, adding that 43 to 45 percent of China’s economy is closed to foreign investment and Chinese privately owned companies.