Full Text Translation

The Opinion gives guidance on distinguishing changed circumstances and commercial risk, determining excessive liquidated damages, loss of anticipated benefits and agency by estoppel, and correctly applying mandatory provisions and the rule of the right of plea of unease.

The revised Provisions remove the part on anti-monopoly investigation.

For each stock offering, any one private placement target may opt to subscribe the new shares either offline or online, but not both.

Beijing offers financial incentives to establish regional headquarters in the city.

The Guidelines elaborate on the fundamental basis for defining the relevant market: demand substitutability and supply substitutability. They also explain the hypothetical monopolist test analytical approach.

The Circular allows enterprises in China to directly extend loans to their wholly-owned subsidiaries and enterprises overseas.

Mofcom delegates the approval of FIEs of service sectors to local authorities.

The Provisions detail the procedures for reporting, investigation and handling of cases of monopolistic agreements and cases of abuse of dominant market position by administrations for industry and commerce.

Qualified M&A transactions allowed special income tax treatment.