MOFCOM speeds up simple mergers
May 06, 2013 | BY
clpstaff &clp articlesThe Ministry of Commerce has set out what merger applications can be classed as simple cases, but has not yet clarified what the streamlined approval process will look like
On April 3, the Ministry of Commerce (MOFCOM) released Tentative Provisions on the Criteria Applicable to Simple Cases of Concentrations of Business Operators (Draft for Comments)(商务部关于经营者集中简易案件适用标准的暂行规定 (征求意见稿)).
MOFCOM released this draft just days after issuing Draft Provisions on imposing restrictive conditions when approving a concentration of business operators.
Both pieces of legislation are part of an initiative from the Ministry to streamline and clarify the country's merger review process, which is often criticised for the time taken to review cases and a lack of transparency.
Common criticisms
“A common criticism is that MOFCOM needs more time to complete its review process than other merger control authorities in other countries,” said David Livdahl, a partner with Paul Hastings in Beijing.
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