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Tuesday, December 29, 2020
On 19 December 2020, the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) have jointly issued the Measures for the Security Review of Foreign Investment (Measures), with effect from 18 January 2021. The Measures provide clarity on Article 35 of the Foreign Investment Law and Article 40 of its Implementing Regulations which have been in force since 1 January 2020, among others.
The Measures are nationwide. They consists of 23 articles, mainly specifying the following content: the agency responsible for foreign investment security review; the scope of foreign investment security review; the declaration mechanism for foreign investment security review; the procedures and time limit for foreign investment security review; the implementation of the decision on foreign investment security review; and punishments on violations.