U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012.  REUTERS/Shamil Zhumatov  (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

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Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012.  REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

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Factbox: Foreign firms that withdrew from China

Thu Jan 14, 2010 7:53am EST

(Reuters) - Google, the world's top Internet search engine, threatened to shut its Chinese-language Google.cn website and offices in China, saying a massive cyber-attack from China had resulted in theft of its intellectual property.

Here are some foreign companies that have withdrawn from or sold down their investments in the world's third largest economy:

TIME WARNER CINEMAS

- In 2007, media conglomerate Time Warner Inc. offloaded the cinemas it ran in China to local partners after Beijing tightened restrictions in 2005, requiring foreigners to give control to Chinese partners.

EBAY

- Ebay pulled out of China in 2006, folding its China operations into a joint venture with Tom Online where Tom got the controlling share. Ebay's departure was due to stiff competition from Taobao, a unit of China's largest e-commerce firm, Alibaba Group.

FOSTERS

- Australia's biggest brewer, Foster's Group Ltd, sold its Shanghai brewing business and local Chinese beer brands to Suntory Ltd for an undisclosed amount in 2006, on the back of fierce competition in the China market.

YAHOO! INC

- In 2005 Yahoo! Inc folded its China business into Alibaba Group, making a $1 billion investment in exchange for a 40 percent stake in the Chinese company.

AHOLD

- Dutch grocer Royal Ahold NV sold its loss-making supermarket operations in China in 1999, as it was unable to compete with cheaper domestic competitors.

GIORDANO

- Fashion retailer Giordano International was forced to close several outlets in China between 1994 and 1996 after founder Jimmy Lai called then-premier Li Peng a "turtle egg" -- a serious insult in Chinese -- following the 1989 military crushing of student-led democracy demonstrations centered on Tiananmen Square.

Lai later relinquished his position at the retailer under pressure and expanded his media empire to Taiwan.

LEVI STRAUSS

- Privately owned Levi Strauss & Co of San Francisco pulled out of China in 1993 over human rights concerns at a time when demand for jeans there was soaring. It later returned to the country.

(Compiled by Ben Blanchard, Melanie Lee, Lucy Hornby and Benjamin Kang Lim; Editing by Alex Richardson)

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Comments (2)
Benny_Acosta wrote:
It would appear that the pattern is to entice foreign companies into China with its large market base and then run them out with regulatory constraints, forcing them to give up or sell off their assets to local Chinese companies thus giving China a greater advantage.

Jan 14, 2010 10:50am EST  --  Report as abuse
Yet we still dont learn. Who do u think the next world war will be with? I say china and its no ones fault but our own as we hand them over everything!

Jan 14, 2010 2:57pm EST  --  Report as abuse
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