Foreign acquisitions, mergers, or acquisitions of control over a Chinese business may trigger a concentration filing to SAMR; the regime is mandatory and suspensory. 外资收购、合并或取得中国企业控制权可能触发向国家市场监督管理总局的经营者集中申报；该制度具有强制性与暂停性。 The 2024 thresholds (State Council Order No. 773, effective 26 January 2024) are global RMB … Anti-monopoly & Merger Control FilingRead more
FDI
Merger Control in China: Concentration Notification Thresholds and the 2026 Delegated Review (2026)
A concentration must be notified to SAMR before closing if it meets the turnover thresholds; failing to file or closing early triggers investigation and penalties.达到营业额标准的经营者集中，须在实施前事先向市场监管总局申报；未申报或获批前实施将面临调查与处罚。 Current thresholds (raised in the 2024 revision): global aggregate turnover > RMB 12bn, or China … Merger Control in China: Concentration Notification Thresholds and the 2026 Delegated Review (2026)Read more
Sector Restrictions After Manufacturing Zeroing: Where Foreign Capital Can (and Cannot) Go in 2026
China’s unified Market Access Negative List (2025 edition) was cut to 106 items, down from 117 in 2022, while the foreign-investment access list stands at 29 national items with manufacturing fully zeroed.中国统一市场准入负面清单（2025版）由2022版117项减至106项，外资准入负面清单全国版保留29项、制造业全面清零。 The 2026 policy emphasis has shifted from manufacturing … Sector Restrictions After Manufacturing Zeroing: Where Foreign Capital Can (and Cannot) Go in 2026Read more
Industry restrictions by sector: a quick map
At the national level, manufacturing is effectively open, agriculture and mining carry a few hard prohibitions, and services, media, education and healthcare hold most remaining restrictions. 全国层面制造业基本放开；农业与矿业保留少量硬性禁止；服务业、传媒、教育、医疗承载了剩余限制的主要部分。 Agriculture bans investment in rare-Chinese-variety R&D/breeding, transgenic breeding, and fishing in Chinese waters; … Industry restrictions by sector: a quick mapRead more
China’s Expanded Opening of Value-Added Telecom Services: A 2026 Pilot Roadmap for Foreign Investors
China has removed foreign-equity caps on a defined set of value-added telecom (VAT) services in four pilot zones, and the pilot is now being scaled up.中国在四个试点区域取消了特定增值电信业务的外资股比限制，试点正在有序扩围。 As of early June 2026, 166 foreign-invested enterprises had received pilot approvals, and foreign-invested … China’s Expanded Opening of Value-Added Telecom Services: A 2026 Pilot Roadmap for Foreign InvestorsRead more
FIE admission rules: approval vs. filing
Since 1 January 2020, the default is “non-prohibited, free to enter” — an FIE forms like a domestic company and MOFCOM no longer issues approval certificates. 自 2020 年 1 月 1 日起，默认规则为”非禁即入”——外资企业如内资公司设立，商务部不再核发批准证书。 The only foreign-specific step is an information … FIE admission rules: approval vs. filingRead more
The “Invest in China” Service Platform and One-Stop Support for Foreign Investors (2026 Action Plan)
The 2026 “Stabilise and Improve Foreign Investment” action plan mandates an “Invest in China” digital comprehensive service platform consolidating information, consultation, professional support and feedback.2026年《利用外资固稳促优行动方案》要求建设”投资中国”数字综合服务平台，整合信息归集、办事咨询、专业支持与互动反馈。 Foreign-invested enterprises are promised full national treatment, with government procurement and bidding subject to fair-competition … The “Invest in China” Service Platform and One-Stop Support for Foreign Investors (2026 Action Plan)Read more
One-stop foreign investment service windows
Under the “Invest in China” brand, China runs a national multi-channel service network: a digital portal, a key-project task force, a monthly foreign-enterprise roundtable, and an online issue system. 在”投资中国”品牌下，中国构建全国性多渠道服务体系：数字门户、重点外资项目专班、月度外资企业圆桌会议与线上问题系统。 MOFCOM cites five pillars: the monthly roundtable, the key-project task … One-stop foreign investment service windowsRead more
VIE Structures & Regulatory Trends
A VIE is a contractual-control structure letting an offshore-listed company control and consolidate a domestic operating company without holding equity, used to bypass Negative-List foreign-ownership limits. VIE是合同控制结构，使境外上市主体无须持股即可控制并合并境内运营实体，用于绕开负面清单的外资股比限制。 The 2023 CSRC Trial Measures (effective 31 March 2023) brought VIE offshore listings … VIE Structures & Regulatory TrendsRead more
Offshore Listings, CSRC Filing and the VIE Question (2026)
Onshore enterprises must file with the CSRC before or shortly after an overseas listing; the filing covers both direct and indirect (including VIE) listings under a “substance-over-form” test.境内企业境外发行上市须向证监会备案（直接及间接上市，含 VIE），认定遵循「实质重于形式」。 Indirect overseas listing is determined by China-business indicators: >50% of revenue/profit/assets/equity … Offshore Listings, CSRC Filing and the VIE Question (2026)Read more