GC Agenda China
In the January edition of GC Agenda China (subscription required), Morrison & Foerster partner Paul McKenzie commented on the final foreign investment information reporting measures issued by the Ministry of Commerce (MOFCOM) and the State Administration for Market Regulation (SAMR) in China.
According to Mr. McKenzie: “Finally, on the eve of the 2019 FIL coming into force, the SAMR and MOFCOM have put the finishing touches on a key piece of regulatory infrastructure needed to animate the new law. MOFCOM's system of approvals and record-filing is gone, in favour of the integrated enterprise registration system administered by the SAMR that interconnects with other agencies. Once companies and regulators work through the teething pains, the new system should be far more efficient.”