The General Office of China’s State Council published the Circular on Establishing a Mechanism of Security Review of Mergers and Acquisitions of Domestic Enterprises by Foreign Investors (《国务院办公厅关于建立外国投资者并购境内企业安全审查 制度的通知》) (the Circular) on 12 February 2011. The Circular was promulgated to guide the orderly development of foreign takeovers of domestic enterprises and to safeguard national security. According to the Circular, an Inter-Ministerial Joint Committee (the Joint Committee) will be established under the State Council to be responsible for the national security review, and led by the National Development and Reform Commission and the Ministry of Commerce (MOFCOM). The Circular sets out the scope, content, review mechanism, and procedures of the national security review. Mechanisms for the national security
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The Chinese State Council establishes a national security review system for foreign takeovers
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