On 26 January 2024, China issued significantly higher merger filing turnover-based thresholds, with immediate effect. Notably, China has removed a hybrid threshold proposed in the June 2022 draft, which was based on both revenue and market value of target companies and purported to target high-value “killer” acquisitions.

The wide-ranging proposed amendments to China’s Antimonopoly Law (AML) (“Proposed Amendments”) were published for public comments immediately after being presented to China’s top legislature for the first reading. It is clear from the Proposed Amendments that China intends to continue to strengthen antitrust enforcement.