The Guidelines list the application materials required for reporting of concentrations of business operators and set forth the permission procedure thereof.
According to the Opinion, concentrations of business operators that are conducted by way of a merger shall be reported by all of the business operators that are parties to the merger.
The Opinion requires an account of the effect of a concentration of business operators on competition in the relevant market when reporting a concentration of business operators.
As China faces up to the challenges of a global recession, lawyers are calling for changes to the country's regulatory regime for mergers and acquisitions. Proper support for acquisition financing and foreign currency conversion will boost the market and encourage investors. More clarification of joint-venture funding and anti-monopoly rules will also help.