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This article examines the recently promulgated takeover regulation by the China Securities Regulatory Commission. Along with other laws and regulations, this new regulation has greatly enhanced China’s takeover legal regime both in terms of form and substance. It came at time when the Chinese economy is undergoing a strategic restructuring process and China’s capital markets are at the birth of a new era thanks to the ongoing state share reform. The new regulation brings China’s takeover law more closely into line with its counterparts in more developed economies, but it remains to be seen whether it will function in practice as hoped due to some potential problems with the regime. The article investigates the implications of the new regulation for takeover activities in China, and conducts a critique of China’s takeover legal regime from a comparative perspective.