BEIJING, June 29 -- China will roll out revised guidelines to streamline procedures for foreign firms' merger and acquisition (M&A)activities in the near future, the Ministry of Commerce (MOC) said Thursday.

China Wednesday issued a revised foreign investment catalogue, which includes the negative list as well as sectors and industries in which the government wants to encourage foreign investment.

The new catalogue has reduced the requirement to obtain official approvals in M&A activities, which means more foreign firms can be established or change status directly via registration.

The MOC will develop supporting policies and roll out new guidelines to define registration procedures for company establishment or changes of status due to M&A activities, according to Sun Jiwen, spokesperson for the MOC.

The reform will reduce institutional transaction costs for foreign firms and make the domestic business environment more global and facilitating for foreign firms, Sun said.