MOFCOM praised for simplified M&A clearance process

"This is on par with a simple case in the EU," said Marc Waha, partner in the antitrust practice at Norton Rose Fulbright in Hong Kong, who estimates that around half of all deals are now being filed under the simplified procedure.

Despite the progress, however, some law firms say they are reluctant to use the new procedure because the bases on which a deal could qualify as "simple" are still unclear.

They add that some of the blockbuster international deals that China believes could threaten its industrial policy goals also remain shrouded in uncertainty, as evidenced by its decision to block a planned alliance of the world's top three container shipping lines in June.

MOFCOM did not respond to faxed and e-mailed requests for comments, but speaking at a press briefing in February, Shang Ming, its anti-monopoly bureau's director-general, said the bureau was introducing the simple procedures to "improve efficiency".

After five years, he added, MOFCOM has learnt that the vast majority of cases do not harm domestic competition.

"There has been a change in philosophy at MOFCOM," said Liyong Jiang, a partner at Beijing-based Gaopeng & Partners and a former MOFCOM official. He and others said the agency has worked hard to improve its sector knowledge and has more confidence to identify and approve simple cases.

The simplified procedure is expected to speed up complex transactions because MOFCOM will have more time to devote to these deals, said lawyers.

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