Background
In August 2008, the People's Republic of China
("PRC") implemented the Anti-Monopoly Law (the
"AML"). Under Articles 20 and 21 of the AML, transactions
qualified as "concentration", which include mergers and
acquisitions, are required to be reported to the Anti-Monopoly
Bureau of the Ministry of Commerce (the "MOFCOM") for
approval.
Pursuant to the AML, the Provisions of the State Council on
Thresholds for Prior Notification of Concentration of Undertakings
(the "Regulations") specify that the reporting obligation
will be triggered if, during the financial year preceding the
concentration,
- the aggregate worldwide turnover of all the parties involved in
the transaction exceeds RMB 10 billion and each of at least two
parties has turnover in the PRC exceeding RMB 400 million; or
