"On July 1, 2007, the CSRS, China's equivalent to the U.S. Securities & Exchange Commission, imposed Regulation No. 106, which ostensibly required new and complicated government approvals on any mergers with U.S. public companies. This regulation apparently has been viewed, by U.S. financial experts, as a serious obstacle in completing such mergers, as the Chinese government has a history of acting unevenly and slowly in granting such approvals. Yet, when confronted with the challenge and with Mr. Cao's leadership, LJPC became only the second company in the entire country to obtain "Regulation No. 106 approval", and thus joined an elite group to complete a merger in the U.S."
What's this?? Who's the other company? Don't we see these US shell-Chinese company merge-news every second day on the news?
Must look which are intentions and which have really come true.
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