Yuan band widening! Free trade zones! State-owned enterprise listings! While headlines point to a season of economic liberalization in China, every innovation seems to carry its share of caveats and unanswered questions.
New regulations on state approvals for Chinese companies investing overseas are no exception. While bankers may be hoping that the new higher bar on what deals will require central government approval may speed up overseas acquisitions by Chinese companies, some of the “hot” sectors remain tightly controlled.
The new rules, which China’s National Development and Reform Commission (NDRC) announced in April and took effect on May 8, raise the threshold for the size of transaction requiring full review by the body, China’s top economic planner.
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Ned Levin and Prudence Ho, Wall Street Journal via CHINA US Focus http://ift.tt/T6MagB
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