Proposed rule changes make overseas M&A easier for China firms

Hong Kong

CHINA is planning to remove the need for State Council approval for large, sensitive outbound deals and will allow Chinese companies to vie for the same target, a move likely to further boost record overseas acquisitions by Chinese companies.

China's chief outbound investment regulator, the National Development and Reform Commission (NDRC), has published draft rules aimed at both speeding up approvals and allowing head-to-head competition between Chinese bidders.

Under the propo…