New MOFCOM Rules Expand Scope of National Security Review

On August 25, 2011, the Ministry of Commerce issued the Provisions iImplementing the Security Review System for Mergers and Acquisitions of Enterprises within China involving Foreign Investors. The Provisions replace MOFCOM's Interim Rules on the same subject, and take effect from September 1. Their main goal is to regulate the procedure applicable to transactions falling under the scope of the national security review. While in general the procedural steps and documentary requirements imposed on foreign investors are largely identical with the previous rules, there are also a few notable changes, including in particular the extension of the scope of review reach out to offshore transactions involving onshore business operations and assets in China.

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