China Plans New M&A Regulations
China will introduce more than 20 supporting regulations on foreign
mergers and acquisitions of domestic firms by August next year, state
media reports. The regulations will be announced before a new Antitrust
Law comes into effect on 1 August 2008. The new regulations will “help
ensure that foreign M&A deals promote China's economic growth
without threatening its economic security.” Under the Antitrust Law,
China will scrutinise foreign M&A proposals if they pose “a
potential threat to national security.” Two primary factors will be
used to evaluate foreign M&A deals: be whether the domestic firms
are fairly priced, and whether the deal would lead to company asset
growth.
Citibank and BlackRock Launch New Offshore Funds
Citibank (China) Co Ltd and BlackRock Merrill Lynch Investment Managers
have teamed up to launch 11 new qualified domestic institutional
investor (QDII) funds for Chinese investors. The 11 mutual funds are
grouped under three themes: emerging markets, natural resources and
global markets. The QDII scheme was established last year to allow
authorised institutions to invest client funds offshore. Citibank now
offers QDII products in 26 funds in multiple currencies to
Chinese-resident investors in Shanghai, Beijng, Tianjin, Guangzhou,
Shenzhen, Chengdu and Hangzhou.
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