中国国有企业及并购条例.pdf

July 2016 中国国有企业及并购条例 Chinese state owned companies and merger regulation 在欧盟委员会最近通过的关于涉及中国国有企业（“国企”）集中的决定发现 ，国有企业由中国国务 院国有资产监督管理委员会（“中央国资委”）所控制。因此 欧盟委员会决定对由中央国资委控制的 其他国企营业额进行评估来确定该并购是否需要根据欧盟并购条例履行告知义务。 In a recent decision by the European commission regarding a concentration involving a Chinese state-owned enterprise (“SOE”), it was found that the SOE was “controlled” by the state-owned Assets Supervision and Administration Commission of the Chinese State Council (“Central SASAC”). This led to the European Commission to include the turnover of other SOEs controlled by Central SASAC in the assessment of whether the merger had to be notified under the EU Merger Regulation. 修德 1.引言 1. INTRODUCTION In a recent decision by the European commission regarding 在欧盟委员会最近通过的关于涉及中国 a concentration involving a Chinese state-owned enter- 国有企业（“国企”）集中的决定发现 ， prise (“SOE”), it was found that the SOE was “controlled” by the state-owned Assets Supervision and Administration 国有企业由中国国务院国有资产监督管 Commission of the Chinese State Council (“Central SASAC”). 理委员会（“中央国资委”）所控制。因此 This led to the European Commission to include the 欧盟委员会决定对由中央国资委控制的其 turnover of other SOEs controlled by Central SASAC in the 他国企营业额进行评估来确定该并购是否 assessment of whether the merger had to be notified under the EU Merger Regulation. 需要根据欧盟并购条例履行告知义务。 2．CGN案例 2. THE CGN CASE In the EU, concentrations have to be notified to the EU 在欧盟，如果有关企业的总营业额超过50 commission if the total turnover of the undertakings con- 亿欧元，并且至少其中两个有关企业营业 cerned exceeds € 5 billion, and at leas