Experts give insight into the regulatory developments influencing the market and what the coming year promises as China adapts to the new normal, writes Alainna Wrigley
For this year’s directory report, we consulted experts from leading firms to gain their insights into the major regulatory and market developments over the past year that have impacted their clients and the services they provide them. These experts share their experiences herein, and give their informed predictions of important changes on the horizon.
Firms are welcoming with open arms relaxation of restrictions on both inbound and outbound investment and less approval red tape. Many also look forward to the further dismantling of the bifurcated regulatory system for foreign and domestic companies. However others remain cautious as this may also herald the end of variable interest entities taking advantage of this system.
At the same time, increased legislation and enforcement in compliance and competition has reinforced the central authorities’ commitment to the anticorruption campaign. Regulators have launched a two-year campaign to fight nepotism in the construction industry, where corruption has resulted in misuse of public funds and the loss of life due to shoddy materials. Firms have also seen greater emphasis on antitrust in intellectual property.
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