A New Model of Direct Venture Capital Investment in China

A new model of overseas venture capital investment in the PRC has emerged since the promulgation of the Rules on the Merger and Acquisition of Domestic Enterprises by Foreign Investors (关于外国投资者并购境内企业的规定) (New M&A Rules) and the Guidelines on Domestic Enterprises Indirectly Issuing Securities Overseas or Listing and Trading their Securities on Overseas Stock Exchanges (境内企业间接到境外发行证卷或者将其证卷在境外上市交易) (CSRC Guidelines) in 2006.