The State Council has issued guidelines to simplify coporate approvals to encourage companies to merge and restructure, news website china.com reported Monday. The changes mean that firms that acquire unrelated companies do not have to make promises on financial performance, the report said. They will also expand access for private capital. The China Securities Regulatory Commission is also working with government departments to launch a new approval process this year to allow applications for mergers to be approved in parallel rather than sequentially, the report said.
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