China’s SAMR Clears 298 Merger Reviews in H1, Bans 1

The near-total approval rate in China's merger reviews signals a regulatory posture that is more procedural than obstructionist, even as the single prohibition and conditional approvals show enforcement teeth remain. For market participants, the practical takeaway is that deal flow faces low structural risk from SAMR, but compliance with notification rules is non-negotiable, given the four public penalties for illegal concentration. The open question is whether this permissive trend persists into the second half, particularly for tech or cross-border deals that might attract heightened scrutiny.