Shuanghui to buy US pork producer

In a statement to China Daily, the National Pork Producers Council, a Washington-based industry group, declined to comment directly on the Shuanghui-Smithfield deal. But it said the sale "does have the potential to increase US pork exports to China, which would benefit all US pork producers".

In the companies' announcement, Shuanghui Chairman Wan Long said: "Together we will be able to meet the growing demand in China for pork by importing high-quality meat products from the United States, while continuing to serve markets in the United States and around the world."

The proposed takeover is subject to approval by US regulators on antitrust and competition grounds as well as a review by the Committee on Foreign Investment in the United States.

The interagency committee, led by the Treasury Department, evaluates large or sensitive deals involving foreign investors that could affect US national security. CFIUS, as the panel is known, has previously rejected some proposed acquisitions by Chinese companies.

As the nation's chief regulator of meat products, both domestic and imported, the US Department of Agriculture will also have a say in the CFIUS review.