The Provisions of the State Council on Notification Thresholds of Concentrations of Undertakings (the "Provisions") were published by the State Council on 3 August 2008 and came into effect on the same day. After months of speculation, some guidance on the merger control regime under the Anti-Monopoly Law (the "AML") has been issued. However, apart from providing slightly improved thresholds compared to the draft provided to the public in March, the long-awaited Provisions did not elicit excitement from the business community, as was previously anticipated. These new thresholds, without supporting provisions on procedures, could have a significant impact on cross-border M&A given they could cause considerable uncertainties and delays to deals completing. The first step - not a

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