Rules that provide for potentially sweeping merger control reporting requirements came into effect as of 12 April 2003. These rules apply to transactions that directly involve the acquisition of domestic companies by foreign investors onshore transactions as well as to foreign to foreign transactions offshore transactions.
The new rules are awkwardly called the Provisional Rules on Mergers with and Acquisitions of Domestic Enterprises by Foreign Investors provisional rules and have been issued jointly by the Ministry of Foreign Trade and Economic Cooperation Moftec - now the Ministry of Commerce, the State Administration for Industry and Commerce SAIC, the State Administration of Taxation and the State Administration of Foreign Exchange. The...
