Recent Developments in China, the US and Europe
Edited by Michael Faure and Xinzhu Zhang
10. Chinese merger control: patterns and implications Xinzhu Zhang and Vanessa Yanhua Zhang* 10.1 INTRODUCTION After China’s Anti-Monopoly Law (AML) took effect on 1 August 2008, the State Council and the Ministry of Commerce (MOFCOM), China’s merger control authority, issued several pieces of regulation and guidelines to its implementation. Indeed, immediately after the release of the AML, on 3 August 2008, the State Council promulgated the Regulation on Notification Thresholds for Concentration of Undertakings (‘Thresholds Regulation’), which forms the legislative basis for the new pre-merger filing system.1 In addition, MOFCOM issued the Guidelines for the Antitrust Filing for Merger and Acquisition of Domestic Enterprises by Foreign Investors (‘Filing Guidelines’), which provides additional guidance on the types of information to be submitted (for example, market definition, competitive conditions and entry conditions) by the merging parties.2 It is expected that more documents will be released shortly as the Guideline for Market Definition has just concluded its public consultation and the drafting of the Guideline for Analysis of Competition Effect of Mergers and Acquisitions is underway. The legal framework for China’s M&A control policy is therefore steadily emerging. Even though the legislative process is still evolving, there have already been more than 50 merger cases dealt with under the new anti-monopoly regime.3 As expected, most filing cases were cleared without being challenged. However, the Anti-Monopoly Bureau at the Ministry of Commerce (MOFCOM), which is in charge of merger review, has also issued three important case decisions: two approvals with conditions and one...
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