Clifford Chance

MOFCOM seeks to streamline and clarify the Chinese merger control process – draft regulations published

24 April 2013

The publication of the Glencore/Xstrata decision came just shortly after the publication of two draft merger regulations for public comments.  The first draft regulation, the Regulations on Imposing Restrictive Conditions on Concentrations of Undertakings (Restrictive Conditions Regulations), published on 27 March 2013, fleshes out procedures for implementing merger remedies.  Interestingly, the level of detail required by MOFCOM in the Glencore/Xstrata decision (by way of a Remedial Commitment Plan – which set out the details of the commercial terms and timelines agreed by Glencore in respect of remedies imposed) reflects the merger remedy procedures set out in the Restrictive Conditions Regulations.  The second draft regulation, the Interim Regulations on Standards Employed for Simple Concentrations of Undertakings (Simple Mergers Regulations), released on 3 April 2013, define the types of mergers that will be regarded as "simple" mergers or mergers which raise little or insignificant competition issues.

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