BHP Billiton Ltd.'s $96 billion hostile takeover offer for Rio Tinto Group would be harmful to China and should be reviewed by the nation's anti-monopoly agency, The Age reported, citing an adviser to China's National People's Congress.

The offer will affect all Asian economies and should be rejected by European regulators, Professor Xiaoye Wang told a law conference in Melbourne, the newspaper said. China's Ministry of Commerce has received complaints about the proposed combination, though it has no regulatory jurisdiction over it, Wang said.