China’s quick recovery from the global financial crisis has caused legislators as well as business operators in China and abroad to take action in response to the opportunities offered by China’s re-emerging M&A market.
The Ministry of Commerce has clarified many important questions concerning the PRC Anti-Monopoly Law through the enactment of additional implementing rules and regulations as well as the publication of further information on the handling of anti-trust cases by its Anti-Monopoly Bureau.
The State Administration of Taxation has further refined China’s anti-avoidance regime by enacting a number of important circulars and measures which are of major concern in the M&A context. Moreover, on 25 November 2009 the State Council has finally promulgated the Administrative Measures for the Establishment of Partnership Enterprises by Foreign Corporations and Individuals in China which entered into force on 1 March 2010. In particular the funds industry has observed these new enactments with great interest as foreign-invested partnerships may serve as investment vehicles for onshore private equity purposes.
