The Chinese State Council publishes a notice detailing its national security review procedure for the acquisition by foreign investors of domestic companies

The State Council of the People’s Republic of China has published a notice detailing its national security review («NSR») procedure for the acquisition by foreign investors of domestic Chinese companies («NSR Notice»). The NSR Notice, which implements Article 31 of the PRC Anti-Monopoly Law, will be applicable as of March 6, 2011. The NSR Notice provides for review and potential rejection of acquisitions of Chinese companies by foreign investors where such acquisitions could affect national security, economic stability, social order, or research and development capabilities relating to key technologies. It applies to acquisitions in a wide range of industry sectors. As with many of these types of rules found in other jurisdictions, the NSR Notice leaves great discretion in the hands of

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Peter J. Wang, Sébastien J. Evrard, Yizhe Zhang, H. Stephen Harris, Bevin M.B. Newman, Giovanna M. Cinelli, Kenneth J. Nunnenkamp, The Chinese State Council publishes a notice detailing its national security review procedure for the acquisition by foreign investors of domestic companies, 6 March 2011, e-Competitions Bulletin March 2011, Art. N° 35742

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