Critical Information Infrastructure (CII) protection is codified in the 2021 《关键信息基础设施安全保护条例》, effective 1 September 2021 and reinforced through 2026 implementing rules.关键信息基础设施（CII）保护由2021年《关键信息基础设施安全保护条例》（2021年9月1日施行）确立，并通过2026年相关实施规则持续强化。 CII operators must pass CAC-led network security review before procuring network products or services that may affect national security—a … Critical Infrastructure Security Review in China: The CII GateRead more
市场准入 / Market Entry
Data Security Review in China: CAC-Led Controls for 2026
China’s data-security review is led by the CAC under the 2022 《网络安全审查办法》, reinforced by the 2021 《数据安全法》 and 《个人信息保护法》, all in force through 2026.中国的数据安全审查由网信办依据2022年《网络安全审查办法》主导，并辅以2021年《数据安全法》与《个人信息保护法》，上述规则在2026年持续有效。 Network security review is mandatory for CII operators procuring network products/services that may affect national security, … Data Security Review in China: CAC-Led Controls for 2026Read more
Key Technology M&A Review in China: Security Meets Competition
Foreign acquisitions of Chinese technology companies are swept into three overlapping regimes: MOFCOM/NDRC security review, SAMR antitrust clearance, and technology-export licensing.外资收购中国科技企业同时落入三套相互叠加的制度：发改委/商务部安全审查、市场监管总局反垄断审批，以及技术出口许可。 The Catalogue of Prohibited and Restricted Technology Exports (revised 2020, with ongoing 2023–2025 refinement) can block or condition the … Key Technology M&A Review in China: Security Meets CompetitionRead more
Foreign Investment Security Review in China: A 2026 Market-Entry Guide
China’s foreign investment security review is a mandatory, two-stage regime administered by MOFCOM and NDRC under the 2020 Measures (Order No. 37), in force since 18 January 2021.中国外商投资安全审查是由商务部与国家发展改革委依据2020年《外商投资安全审查办法》（第37号令，自2021年1月18日起施行）实施的强制性两段式审查制度。 Acquiring “control” of a Chinese entity in defined key sectors—defence, technology, energy, … Foreign Investment Security Review in China: A 2026 Market-Entry GuideRead more
National security review of foreign investment
Security review is a stand-alone ex-ante screening under the Foreign Investment Law (Art. 35) and the 2020 Security Review Measures (Order No. 37, effective 18 January 2021) — it can block or condition a deal even where the negative list … National security review of foreign investmentRead more
Foreign Investor M&A of Chinese Enterprises: The 2026 Reform Direction
China is revising the rules on foreign investors’ acquisition of domestic enterprises to streamline procedure and payment terms, with stronger inter-agency coordination.中国正修订外国投资者并购境内企业的规定，优化并购管理流程与对价支付要求，并强化部门协同。 The 2026 “stabilise and optimise foreign investment” action plan explicitly tasks MOFCOM with accelerating the revised M&A provisions.2026 … Foreign Investor M&A of Chinese Enterprises: The 2026 Reform DirectionRead more
National Security Review of Foreign M&A in 2026: Scope, Process and the Meta–Manus Precedent
The Foreign Investment Security Review Measures (NDRC & MOFCOM, issued 19 Dec 2020, effective 18 Jan 2021) are the legal basis; the review working-mechanism office sits in the NDRC, led by NDRC and MOFCOM. 《外商投资安全审查办法》（发改委、商务部，2020年12月19日发布，2021年1月18日施行）是法律依据；安全审查工作机制办公室设在发改委，由发改委、商务部牵头。 Review is mandatory where the … National Security Review of Foreign M&A in 2026: Scope, Process and the Meta–Manus PrecedentRead more
Strategic Investment in Chinese Listed Companies by Foreign Investors (2024 Rules in Force for 2026)
The revised Measures (six agencies, Order No. 3, 2024; published 1 Nov 2024, effective 2 Dec 2024) are the governing rule for foreign strategic investment in A-share listed companies. 修订后的《办法》（六部门，第3号令，2024；2024年11月1日公布，2024年12月2日施行）是外国投资者对A股上市公司战略投资的主管规则。 Qualifying methods are three: directed new issue, agreement transfer, and … Strategic Investment in Chinese Listed Companies by Foreign Investors (2024 Rules in Force for 2026)Read more
Merger-Control Filing in 2026: Thresholds, Simplified Track and Delegated Review
The notifiable thresholds (Order No. 773, effective 26 Jan 2024) are: worldwide turnover >RMB 12bn with two parties each >RMB 800m in China, OR China aggregate >RMB 4bn with two parties each >RMB 800m in China; sub-threshold deals with competition … Merger-Control Filing in 2026: Thresholds, Simplified Track and Delegated ReviewRead more
Foreign M&A in China in 2026: Review Map and Timelines
Since the Foreign Investment Law (2020), acquiring a domestic firm is no longer a commerce-approval event; it runs through the negative list, information reporting, plus merger control and security review where triggered. 自《外商投资法》（2020）以来，并购境内企业不再是商务审批事件——经负面清单、信息报告办理，并在触发时通过经营者集中与安全审查。 Merger-control thresholds (State Council Order No. 773, … Foreign M&A in China in 2026: Review Map and TimelinesRead more