Mofcom delegates the authority to approve foreign-invested companies with an investment nature with registered capital of US$100 million or less to provincial-level and sub-provincial-level local authorities.
Acquisition of domestic enterprises in the encouraged or permitted category which transaction amount is less than or equal to US$100 million may be approved by local authorities.
Two new sets of guidelines will further streamline the process for approval of foreign investments, but some additional restrictions have been added. By Jonathan Z Zhou, Jessica Xu and Kevin Troy, Fangda Partners.
China's rejection of Coca-Cola's bid for Huiyuan Juice on anti-monopoly grounds stirred debate on protectionism, and raised unwarranted concerns about future M&A activity in the country