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SCL Act restricts land use for mineral resource investment
Chinese direct investment into Australia, and particularly in the state of Queensland, has been and continues to be a key contributor to economic development, especially in the mining and agricultural sectors.
The recent rapid growth...
For the record, PE funds should ensure they carry out proper filing
TheNotice on Promoting the Compliant Development of Equity Investment Enterprises, issued by the National Development and Reform Commission (NDRC) on 23 November 2011, specifies that equity investment enterprises (including funds of funds) that invest...
Merge surge
There's been a wave of M&A activity in China of late, but will complex regulatory requirements stem the deal flow? Richard Li reports
China’s economic downturn has prompted the stronger market players to swallow up...
RK&O states its case
Richards Kibbe & Orbe has represented companies based in China since 1995. That year, we were retained to represent the New York branch of a Chinese state-owned enterprise (SOE) that had been victimised in...
Employers beware: noose is tightening on unwanted or illegal foreign workers
The National People’s Congress has passed the Law of the People’s Republic of China on Entry and Exit Control, which takes effect on 1 July 2013. The new law not only governs the exit...
Paul Weiss assists DreamWorks Animation with Oriental adventure
Mentioning China, intellectual property, culture, media and the West in one sentence has a surprisingly positive spin with the signing of an agreement on 7 August between DreamWorks Animation SKG and media fund China...
Digging up some shiny details on new Minerals Resource Rent Tax
The Minerals Resource Rent Tax (MRRT) is a complex new tax that came into effect on 1 July. It applies to iron ore and coal mining, and gas extracted as an incident of coal...
When a major asset restructuring is quite simply very complicated
In this case involving a major asset restructuring project, a listed company (the issuer) made a non-public offer of shares to its controlling shareholder (the holding group) for the purchase of the entire shares...
Ministries need to be more specific about rules for private investment
On 7 May 2010, the State Council published Several Opinions on Encouraging and Guiding the Healthy Development of Private Investment, the so-called “New 36 Initiatives for the Non-public Sectors”. Under the opinions, 36 policies...
American pie
The economic crisis has left the US and Canada selling off tantalising slices, but beware of fickle regulators that may leave a bitter aftertaste, writes Aliyah Shahid
Jaws dropped worldwide in 2005 when a Chinese...
Complex patchwork of corruption risks
While China is by no means unique with regard to experiencing corrupt activities in its commercial dealings, there are several important characteristics that distinguish the Chinese corruption environment from corruption in many other countries....
Complex patchwork of corruption risks
China is very attractive to international capital, and numerous industrial parks and development zones have even become hot spots for foreign investment. But investment in industrial parks involves many potential risks as well. One...
Stopping the rot
Changes at home and abroad may leave you wondering how to weed out corruption and promote compliance. John Church sheds some light across three major jurisdictions
Earlier this year, Chinese procurator-general Cao Jianming delivered his...
Draft rules ‘inform’ foreign companies about state secrets
China’s State Council Legislative Affairs Office released on 15 May a draft of the Protection of State Secrets Law Implementing Regulations, which was open for public comment until 15 June. The draft regulations provide...
Six new Baker & McKenzie partners to focus on expanding China work
Baker & McKenzie announced six new partners for China as part of the election of 28 new partners in the Asia-Pacific region and a total of 63 new partners globally, effective from 1 July.
The...
Mayer Brown JSM adds strength to corporate and securities areas
Mayer Brown JSM has appointed James Fong as a partner in its corporate and securities practice based in Hong Kong.
Fong has over 12 years of experience in corporate finance transactions including Hong Kong IPOs,...
Negatives and positives
The July/August issue marks another milestone for China Business Law Journal. We proudly launch our China Business Law Directory, an impressive listing of Chinese and international law firms, as a handy reference guide for...
CIRC improves insurance fund rules but still has a way to go
Following the implementation of the Interim Measures Governing the Use of Insurance Funds in 2010, major insurance companies have taken action, intending to scramble for a share in the market by investing insurance funds...
Documentary credits can work as a method of loan payment
Astate policy bank has recently entered into a loan contract with a foreign natural gas development and production enterprise for the provision of a huge loan. It is agreed in the contract that the...
Administrative guidelines updated for special tax adjustment cases
The State Administration of Taxation (SAT) has issued the Internal Working Guidelines for Special Tax Adjustments (Trial) (Guo Shui Fa No. 13) and Working Guidelines for Re-Examination of Major Cases in Special Tax...
Paul Hastings recruits mergers and acquisitions expert in Shanghai
Paul Hastings announced in late May that Sean Tai has joined its Shanghai office as a partner working in the corporate department.
"Sean's experience advising on a range of M&A, private equity and other related...
New corporate lawyer joins Cadwalader’s Beijing team
Cadwalader Wickersham & Taft announced on 25 May that Huang Jie, a PRC-qualified lawyer and member of the New York State Bar Association, will be joining its Beijing office as a special counsel.
Huang is...
Everbright offloads bridge stake to focus energy on greener fields
China Everbright International announced on 27 May its disposal of the Fuzhou Qingzhou Bridge to generate cash for developing its environmental protection business.
Everbright agreed to dispose of its 80% interest in Greenway Venture and...
Revisions target liability of foreign enterprises that harm environment
In the previous issue, this column discussed the environmental protection regulations that foreign enterprises in the PRC need to heed; in this issue, the focus is the environmental legal liability of enterprises. The environmental...
Lawyers’ role crucial in preparing syndicated loans for big projects
According to the size of financing for a large-scale project as well as the progress and schedule for the use of funds, financing will sometimes be done by various methods such as a renminbi...
ChiNext lifts its regulatory game
More than 300 listed companies have been trading on ChiNext since its successful launch on 23 October, 2009. To gradually improve the regulatory regime for companies listed on ChiNext, the securities regulators and the...
Rewiring the markets
Newly generated regulation has provided a motherboard for transparency and maturity in China’s capital markets, but are they ready for foreigners to plug in? Richard Li explores the key issues
Something most undesirable recently occurred...
PRC environmental laws for foreign enterprises – Pollution control in China
Johnson Controls and Confo-China, two US enterprises operating in China, were caught up in large environmental pollution events in 2011. Both enterprises were ordered by government agencies to suspend production, again drawing attention to...
Healthy competition: China v India
Suzanne Rab, a partner at King & Spalding in London, has experience in proceedings before the UK’s competition and regulatory authorities, and the European Commission. Jet Zhisong Deng is a partner at T&D Associates...
Manna from the havens
Offshore jurisdictions have weathered the financial crisis surprisingly well thanks to China’s hunger for investments abroad. John Church looks at key issues confronting the sector
The global economic turmoil of 2008 has waned although the...
Knock off the knock-offs
What in the name of trademark sanctity is going on in China of late? These past few months it seems high-profile cases involving trademark theft, brand copying and intellectual property pilfering are screaming from...
FIREE recordals track foreign capital
Since May 2007 any injection of foreign capital in foreign-invested real estate enterprises (FIREEs) must be recorded with the Ministry of Commerce (MOFCOM). These “FIREE recordals” provide a useful perspective on the trend and...
Big year for privacy protection
2011 was a busy year in the realms of privacy and data protection in Greater China.
We saw a consultation on the draft Information Security Technology – Guide of Personal Information Protection circulated by the...
Regulations bid to clean up unclear bidding procedures
The issuance of the Implementing Regulations for the Law on the Invitation and Submission of Bids (the Regulations) has enhanced the operability of the bid invitation and submission system and addressed procedural issues such...
Look into our crystal ball
Smart dragons will tread carefully this year. Our survey of legal professionals suggests consolidating your business position and scanning the horizon for regulatory changes. But there are still some hot opportunities, writes Alice Gartland
It’s...
MOFCOM introduces interim measures to combat undeclared monopolies
The Chinese Ministry of Commerce issued the Investigating and Handling Concentration of Business Operators not Declared According to Law Interim Measures (MOFCOM Decree No. 6 of 2011) on December 30. The Interim Measures, which...
Money for nothing
Greek bonds may not seem much of a bargain at the moment, but that doesn’t mean investors view all things Greek with the same disdain. In fact, even as the eurozone crisis worsens, more...
Opportunity amid crisis
The global economic climate doesn't look good in 2012. However, for those participating in PRC-related legal work, there is opportunity amid crisis.
Take Hong Kong as an example. A high proportion of foreign-related contracts in...
Mayer Brown JSM promotes two lawyers in Hong Kong to partners
Mayer Brown JSM has promoted two of its lawyers in Hong Kong to partners. The appointments take effect from 1 January 2012, as part of Mayer Brown’s promotion of 39 lawyers worldwide to partners.
The...
The deals of the year
2011 was full to the brim with news. Japan was hit by an earthquake. Arabs revolted. Bin Laden, Gaddafi, Jobs and Kim died. The euro teetered on the brink of collapse ... China's 2011...
Render unto the mediator…
Mediation-arbitration is available under Hong Kong’s new Arbitration Ordinance. But in most cases, opting for arb-med may not be wise. By David Fong, arbitrator and mediator
A high proportion of foreign-related contracts in the PRC...
Anti-corruption developments in Australia
In November, the Australian government released a consultation paper seeking comment on its proposal to remove facilitation payments as a defence to the prohibition on paying bribes to foreign public officials. This follows the...
Mayer Brown JSM promotes two lawyers in Hong Kong to partners
Mayer Brown JSM has promoted two of its lawyers in Hong Kong to partners. The appointments take effect from 1 January 2012, as part of Mayer Brown’s promotion of 39 lawyers worldwide to partners.
The...
Corporate structures for doing business in Argentina
In the last 10 to 15 years, the Chinese community in Argentina has grown significantly to about 100,000 residents, most of whom are engaged in the retail and supermarket business.
However, in light of China’s...
Australia introduces historic carbon price mechanism
On 8 November, the Australian Parliament passed the clean energy legislative package. The newly created law includes:
the Clean Energy Act 2011 (Cth), which establishes a carbon price mechanism, also known as the greenhouse...
South Africa to overhaul tax law
The third draft of South Africa’s long awaited Tax Administration Bill (TAB) was recently published for a final round of public comment. Since the TAB is now nearing the final stages of the legislative...
Flying high
It’s not just natural resources. Chinese companies are making strategic investments abroad in financial services and manufacturing. Alice Gartland spoke to lawyers involved in some recent deals
Figures released in September by the Ministry of...
PBOC allows RMB settlement by foreign investors
On 31 October, the People’s Bank of China published the Foreign Direct Investment in Renminbi Settlement Business Administrative Measures which became effective on the same day. The Measures explicitly provide that enterprises, economic organizations...
MOFCOM regulates cross-border RMB direct investment projects
On 12 October, the Ministry of Commerce published its Issues Regarding Cross-border Renminbi Direct Investment Notice (Shang Zi Han No. 889) to govern various matters in connection with the use of the renminbi...
Dewey & LeBoeuf Hong Kong association to focus on insurance
Dewey & LeBoeuf has entered into an association with Joyce Sze Ho Chan & Co in Hong Kong. Joyce Chan, principal of the Hong Kong firm, previously served as head of legal for AXA...
And why not?
Buying a business in China is becoming more difficult if you’re not Chinese. The country’s increased prosperity has brought with it a less welcoming attitude to foreign acquisitions. Perhaps China no longer needs foreign...
Agreement with BVI on exchange of tax information published
The State Administration of Taxation recently published the Tax Information Exchange Agreement between the PRC government and the government of the British Virgin Islands and the Notice on the Implementation of the Protocol. The agreement and the...
Central and eastern Europe, country by country
China Business Law Journal is pleased to present a country-by-country guide to investment in central and eastern Europe for Chinese companies.
Bulgaria
Accession to EU: 2007
Population: 7.4 million
Currency: Lev
Together with Romania, Bulgaria is the easternmost of...
Which arbitration rules are right for you?
New rules governing arbitration in China, Hong Kong, Singapore and at the International Chamber of Commerce have changed the game. Which rules are right for you? ...
Public-sector construction tenders open to bidders from abroad
The current economic climate has slowed the development of infrastructure in many countries. In contrast, the South African government has allocated U$115 billion for the development of public sector infrastructure, and the World Bank...
Mining and the environment
A key issue for the mining industry in Australia is to assess potentially negative environmental effects associated with a mining operation and to put in place measures to reduce and manage those effects. This...
The gathering of evidence in arbitration
Determination of facts and the application of rules of evidence are at the core of arbitration law. The application of rules of evidence in arbitration is guided by the principle of autonomy of the...
Dancing breezily along: dreams of China’s capital markets lawyers
ChiNext and the Small and Medium-sized Enterprise Board have given many law firms their first experience of the securities market. But could stiff competition and high professional standards put an end to their dreams...
SAT tightens collection and administration of individual income tax for high-income groups
On 15 April the State Administration of Taxation published the Taking Concrete Steps to Strengthen the Collection and Administration of Individual Income Taxes on High-income Earners Notice (Guo Shui Fa No. 50).
This...
Chen joins Covington to head food and drug practice
Chen Shaoyu has joined US law firm Covington & Burling as managing director of the firm’s food and drug practice in China.
Chen previously served as assistant chief counsel at the US Food and Drug...
Guidance on the new UK Bribery Act
In The Bribery Act 2010 and its international impact in China Business Law Journal volume 1 issue 8, we commented on the uncertainty over the international effect of the UK Bribery Act 2010.
There has been controversy regarding the...
Construction industry needs regulatory certainty
Regulatory certainty is fundamental to the development of the construction industry in any jurisdiction. The construction industry depends on the willingness of companies to invest in capital projects, and the willingness of financial institutions...
Chinese outbound investment and the role of the BVI company
Chinese investors are increasingly looking abroad for investment opportunities to gain access to new markets, advanced technology and brand development. Chinese outbound investment has grown even during the financial crisis which, for cash-rich Chinese...
Deals of the year, part two
China Business Law Journal presents the second half of our selection of significant transactions from last year, and the domestic and international law firms behind them. By George W Russell and Raymond Yang
Following a...
Chinese cash, common law: PRC bank lending goes global
The biggest Chinese banks have ambitious global lending plans. This is creating borrowing opportunities for Chinese and international companies, and a windfall for major law firms. George W Russell and Robin Weir report
In recent...
Tighter control, more freedom
To accompany our review of the leading deals of 2010, we asked our readers to identify the key legal issues that will face business in the coming months. By Robin Weir
To complement our review...
The deals of the year
China Business Law Journal celebrates the most significant transactions of 2010 and reveals the domestic and international law firms that guided them to fruition. By George W Russell and Raymond Yang
With global lending in...
Social insurance law progressive but lacks teeth
The new PRC Social Insurance Law sends a positive signal, but faces many hurdles in implementation. By Matthew Durham, senior consultant, Barlow Lyde & Gilbert, Shanghai
The new PRC Social Insurance Law was finally passed by the Standing...
Entering the UK retail market
Property is generally made available to retailers in the UK on a leasehold basis.
Demand for space in the top retail shopping centres and out-of-town retail parks is high, although the economic climate in the...
Jersey investment funds
Jersey has over 30 years’ experience of establishing and providing support to investment funds. Many of the world’s leading fund managers have chosen Jersey to establish funds including 3i, Blackrock, HSBC, Intermediate Capital and UBS.
There...
Foreign investment in pharmaceutical companies
China’s pharmaceutical industry has drawn the attention of numerous international pharmaceutical companies. As at the end of 2006, there were approximately 1,500 joint venture and wholly foreign-owned pharmaceutical enterprises in the country, accounting for...
E-discovery on the agenda for China’s CEOs
Global companies are increasingly facing an overload of data. Experts forecast that there will soon be one trillion internet-connected devices in the world. The large volumes of information being created and stored are also putting...
CSRC regulates securities law practices of lawyers
In 20 October 2010 the China Securities Regulatory Commission (CSRC) and the Ministry of Justice jointly published the Securities Law Business Practices of Law Firms Provisions (Trial Implementation) and the Legal Business Practices of Law Firms in Securities Investment...
Finding a face that fits: The art of choosing a law firm
With more law firms in the market than ever before, how can a company choose the right one? By Julia Zhu and Raymond Yang
Since the first Chinese law firms appeared around 25 years ago,...
‘Illegal’ or ‘unlawful’ – which term is correct?
If you were to ask a lawyer or a legal translator to explain the difference between “illegal” and “unlawful”, it would be interesting to hear the answer. An English-speaking lawyer with a sense of...
Draft criminal law increases environmental liability
In August, the 11th National People’s Congress of the People’s Republic of China reviewed the draft eighth amendment of the PRC Criminal Law. One of the major focuses of the draft amendment appears to...
The world’s busiest arbitration venue
China now conducts more arbitrations than any other country. Yet arbitration remains a difficult area with competing forums, confusing legal rulings and a perception that some awards may not be enforced. George W Russell...
The Bribery Act 2010 and its international impact
After years of criticism for anti-bribery laws regarded as too weak to tackle cross-border corruption, the UK has positioned itself as an international frontrunner in clamping down on bribery and corruption with the introduction...
China as the world’s top energy consumer – A US perspective
In July this year, the International Energy Agency (IEA) reported that China had surpassed the US as the largest energy consumer in the world. Driven by its revitalized economy and increased output across virtually...
Achieving Success in US M&A
Peter Neumann, James Yong Wang and Aref Amanat
Chinese companies have many reasons to look to the US for potential M&A targets and partners, including strategic benefits and continuing low valuations in some sectors due...
New tax rules boost corporate mergers and restructuring
On 26 July, the State Administration of Taxation published the Corporate Income Tax on Business Restructuring by Enterprises Administrative Measures (State Administration of Taxation Announcement No. 4 of 2010) (the Measures), which elaborate on...
US Supreme Court: securities law does not cover foreign transactions
A recent decision of the US Supreme Court limiting exposure to securities class action litigation in the US has potentially far-reaching implications for Chinese companies that have listed securities in that country, or are...
A transformation: corporate restructuring gains credibility in China
The recent economic climate has led to an increase in both operational and debt restructuring. Both can present difficult challenges to companies and consultants, lenders and lawyers. By Robin Weir
Talk to a consultant trying...
Comply or die
"Compliance" is a fashionable word. But what does it really mean?
To capital markets lawyers, the term "compliance" can refer specifically to compliance with listing rules and other obligations that come with listed company status....
The overseas application of US employment laws
The growth of many US businesses hinges in large part on their ability to capitalize on development opportunities in China.
US companies, frequently working through Chinese subsidiaries, regularly expand their operations into Chinese markets, often...
Industrial relations and conditions of work
With M&A activity by Chinese companies in Australia totalling US$161.1 billion (A$176.57 billion) in 2009, Australia is one of China’s top targets for outbound investment.
Early involvement of legal counsel who specialize in labour and...
Giving gifts within the law
Over the past few years, our specialist team of anti-commercial bribery lawyers has advised and acted for more than 50 domestic Chinese and foreign companies in more than 100 cases and projects. In providing...
After Expo…
Shanghai is gearing up to offer new funding opportunities. But how close is it to becoming a world-class legal, trading and financial centre? By Robin Weir
A month before the World Expo 2010 opened to...
Are you compliant?
Recent high-profile convictions are only one indication of a major crackdown on corruption. The challenge for domestic and foreign companies, and their advisers, is to establish a culture of corporate compliance
George W Russell reports...
Measures governing the shareholdings of insurance companies
On 4 May the China Insurance Regulatory Commission (CIRC) published the Shareholdings of Insurance Companies Administrative Measures, imposing stringent requirements on insurance companies in a number of areas such as shareholding structure, methods of...
Conducting an internal investigation in China
Your home office in the US has an important manufacturing facility in China, where it is suspected that bribery of Chinese government officials may have occurred. You have assembled an experienced team to investigate...
Can I get you another beer? Australia’s anti-corruption laws
Recent press coverage of the crackdown on corporate bribery in the US under the Foreign Corrupt Practices Act and, closer to home, the prosecution and continued investigations following the Stern Hu case in China,...
Further details emerge on restriction of hazardous substances
After several years of anticipation, further details concerning the requirements for the handling and content of electronic information products (EIPs) in the People’s Republic of China are emerging.
On 28 February 2006, the Control of...
The IP world tour
China Business Law Journal offers a brief analysis of intellectual property protection and enforcement in selected countries across the world.
ASEAN
Members of the Association of South East Asian Nations are a disparate group but share...
Latin America, country by country
Given the size of Latin America, it is impossible to paint it all with a single brush, says Stirling Leech, a partner at Clyde & Co which has partners in Brazil and offices in...
Managing a corruption investigation in China
What are you going to do now? Employees in your production plant in China, aided by a couple of management-level employees in your home office in the US, may have bribed Chinese government officials,...
Stricter law enforcement required for commercial franchise operations
On 6 February 2007, the State Council promulgated the Administration of Commercial Franchise Operations Regulations. On 6 April of the same year, the Ministry of Commerce promulgated the Disclosure of Information in Connection With Commercial Franchise...
China’s anti-commercial bribery legislation and enforcement
In 2008, the State Administration for Industry and Commerce (SAIC) and offices at the local level (AICs) investigated and handled more than 6,000 commercial bribery cases. Although the number of cases investigated in 2009...
National treatment for Hong Kong companies in CDM projects
As the largest emitter of greenhouse gases in the world, China’s efforts to combat climate change have received ample attention. Part of this attention concerns China’s position as one of the main destinations for...
Opportunity beckons in Latin America
Latin America is firmly on Chinese companies’ mental map. But what will they find when they get there? China Business Law Journal offers an analysis of the latest state of play, followed by a unique...
Bull market sparks IPO revival: Are in-house counsel up to the challenge?
The recovery in the world’s capital markets has put initial public offerings back on the agenda. For in-house counsel, an IPO can be a once-in-a-lifetime challenge
By Julia Zhu
As the financial tsunami which hit in...
CSRC offers guidance on ChiNext sponsorship
In an attempt to address issues arising from misunderstandings about the market orientation of ChiNext by sponsors and enterprises since ChiNext’s establishment, on 19 March the China Securities Regulatory Commission (CSRC) issued the Guidelines on...
New measures seek to regulate the finance guarantee business
Six ministries and commissions, including the China Banking Regulatory Commission and the National Development and Reform Commission, jointly issued the Administration of Finance Guarantee Companies Tentative Measures on 8 March.
The Measures were issued in order to...
Sustainable development obligations in Australia
Throughout Australia, there is increasing awareness of environmental issues and a demand for more sustainable development and practices. This has meant both an increase in opportunities for investment in sustainable development, and more stringent...
Paradise lost?
Beijing is taking a harder line on offshore structures and the tax advantages they offer
By George W Russell
In the 1920s, the British writer W Somerset Maugham reputedly described Monte Carlo, in the emerging tax...
Steptoe & Johnson opens Beijing office
US law firm Steptoe & Johnson announced the opening of its Beijing office in March. The office is Steptoe & Johnson’s first in Asia, although the firm has advised companies doing business in and...
Steptoe & Johnson opens Beijing office
US law firm Steptoe & Johnson announced the opening of its Beijing office in March. The office is Steptoe & Johnson’s first in Asia, although the firm has advised companies doing business in and...
London fashionistas aspire to ethical sourcing from China
How can fashion designers overseas identify manufacturers and material in China that meet high ethical standards? And once production of their clothes, bags or shoes begins, how can they monitor compliance with labour and...
Tort Law clarifies environmental liability
On 26 December 2009, the National People’s Congress passed the PRC Tort Law, which will take effect on 1 July 2010. Chapters eight and nine of the Tort Law specifically address liability for environmentally related...
Prudential storms into Hong Kong
Prudential’s vote of confidence in Hong Kong has lifted sentiment. Lawyers speak to China Business Law Journal about the city’s future as a business and legal hub for China and Asia
By Robin Weir
All eyes were...
Foreign private issuers and federal US securities regulations
Last month in this column, we discussed the offering of American depository receipts (ADRs) in the US by Chinese companies as foreign private issuers. To follow up, this article discusses the contents of periodic...
The Bi Feng Tang case: What do franchise fees really mean?
In a franchise business, a franchisor licenses a franchisee to use its registered trademark, corporate logo, patents, proprietary technology and other business resources. The franchisee carries on business according to the standard business model...
Copenhagen – the start of a new phase of global climate change negotiations
After an extended final night of negotiations in Copenhagen, the gavel finally came down on 19 December to close the fifteenth Conference of the Parties (COP15) to the United Nations Framework Convention on Climate...
A guide for developers when repairing property under dispute
In a dispute over construction quality, a property developer may need to carry out maintenance work on the building in question during the course of legal proceedings. The way in which the developer handles...
ChiNext offers hope to growth enterprises
ChiNext, the new growth enterprise stock market in Shenzhen, is off to a promising start. ChiNext’s listing rules offer an attractive fund-raising alternative to China’s small and hi-tech companies.
By Michael Fosh, Reed Smith LLP
On...
Climate change measures evolve and converge
In the past two years, there has been a steady stream of regulations and public pronouncements from the governments of the People’s Republic of China and the Hong Kong Special Administrative Region concerning the...
The US Foreign Corrupt Practices Act: what companies in China need to know
The US Foreign Corrupt Practices Act is a powerful statute which governs many US-China transactions and communications. Its implications for Chinese, US and other companies are far-reaching, and the penalties for its violation severe. By...
ADRs: access to the US capital markets for foreign private issuers
Chinese companies wishing to raise capital and list their securities in the US as foreign private issuers may offer either their ordinary shares or American Depository Shares (ADSs) evidenced by American Depository Receipts (ADRs). An...
Choosing dispute resolution methods in a financial crisis
The social effects of the financial crisis are numerous. A change in the economic situation necessitates corresponding changes in the way legal services are delivered.
The dispute discussed below shows that, when engaged in dispute...
