China: Consultation closed on draft Regulations of the State Council on the Declaration Criteria for Operator Concentration

On 27 July 2022, China's State Administration for Market Regulation (SAMR) closed its consultation on the draft Regulations of the State Council on the Declaration Criteria for Operator Concentration, which update its regulations on the declaration of mergers in line with the recently amended Anti-Monopoly Law. The draft Regulations stipulate the conditions under which a merger or acquisition must be declared, without which the merger or acquisition will not be valid. A declaration must be made where two of the entities involved had a turnover of at least RMB 800 million in China in the previous year, or where one of the entities had a turnover of at least RMB 100 billion in China in the previous year and the other entity had a worldwide turnover of at least RMB 800 million in the previous year, of which one-third of revenue was obtained in China.