On December 19, 2020, the National Development and Reform Commission ("NDRC") and the Ministry of Commerce ("MOFCOM") promulgated the Measures for the Security Review of Foreign Investments (Order [2020] No.37 of NDRC and MOFCOM) (the "Measures for Security Review" or the"Measures"), effective as of January 18, 2021. The Measures for Security Review, comprised of 23 articles, specifies the types of foreign investments to which security review is applicable, authorities, scope, procedures of security review, supervision over the implementation of review decisions and punishment measures for violations. The Measures further improves the standardization, accuracy, and transparency of security review, minimizes the impact of security review on foreign investment activities and protect the enthusiasm and legitimate rights and interests of foreign investors.