On 3 February 2011, the General Office of the State Council issued the Circular the General Office of the State Council on the Establishment of Security Review System Regarding Merger and Acquisition of Domestic Enterprises by Foreign Investors (Guobanfa '2011' No.6) for the purpose of further regulating foreign investment through mergers and acquisitions.
 
According to the Circular, any merger or acquisition by foreign investors in the business areas listed below shall be reviewed by the Ministry of Commerce.
 
The business areas subject to this review are: 

• domestic military-industrial and military related enterprises,
• operators sensitive military facilities and other units concerning national security;
• major agricultural producers, energy and resources extractors,
• major infrastructure and transportation services,
• key technologies and major equipment manufacturing relating to national security,

 In 2020, the review framework laid out in the 2011 Circular was expanded to effectively cover all inbound FDI - see related act for more information.