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New Third Board expansion a viable option for capital markets
The third board market, initially known as the share transfer system, officially opened on 16 July 2001. At the time, the “New Third Board” market referred to the pilot project where unlisted joint stock...
Focus on recent developments in securitisation of commercial property
Q: What are the most recent developments in the PRC legal system for the securitisation of commercial property?
A: On 15 March 2013, the China Securities Regulatory Commission (CSRC) issued the Administrative Provisions for the...
Supreme court judgment again touches sensitive VIE nerve
In September 2011, a VIE (variable interest entity) analysis report purportedly issued by the China Securities Regulatory Commission (CSRC) caused a stir in the industry. After the news came out, the relevant regulators quickly...
Brush up on the new conditions before trying to list on the NEEQ
At this year’s National Securities and Futures Regulatory Conference, the then incumbent chairman of the China Securities Regulatory Commission (CSRC), Guo Shuqing, mentioned 10 key tasks in reform and regulation for this year, one...
A glimpse at the future of the new third board
The business rules for the National Small and Medium-sized Enterprise (SME) Share Transfer System, the new third board, were unveiled on 8 February 2013 following the China Securities Regulatory Commission’s promulgation of the Measures...
Capital navigations
Finding the right fund-raising or investment tools in China’s capital markets is an increasingly complex exercise. Richard Li offers a guiding compass
Fund-raising channels for Chinese companies are becoming increasingly diverse as a result of...
New regulations for unlisted public companies a boon for lawyers
The formal establishment of National Equities Exchange and Quotations (NEEQ) on 16 January is a milestone in the multi-level development of China’s capital markets, providing a national trading and financing platform for unlisted public...
Exploring the legal procedures for listing of enterprise reorganisations
Enterprise reorganisations are divided into reorganisations in the broad sense and listing reorganisations in the narrow sense. The term “listing reorganisation” means the conversion of an enterprise in accordance with the law to the...
Deals of the year 2012
The legal and business landscape in China continued to evolve this past year, and many of the best deals demonstrate the changing times. Richard Li reports on the ones we judged to be outstanding...
Surviving the winter
Private equity investors must rely on their best instincts and closely monitor recent legal developments if they want to make it through an icy economic season for the industry, writes Richard Li
"It’s November now....
Ins and outs
Looking outward, the news is positive. Chinese investors are being encouraged to set their compasses for far-flung destinations and it seems they are heeding the advice of government. In Outbound in full sail, we...
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...
New regulations for QFIIs foreshadow trend of increased foreign investment
On 27 July, the China Securities Regulatory Commission (CSRC) formally issued and implemented the Regulations on Issues Relevant to the Implementation of the Measures for the Administration of Investment in Domestic Securities by Qualified...
Resolution revolution
Resolving disputes is big business and not knowing the ground rules at home and abroad will cost you dearly, writes Raymond Yang
As China has expanded its overseas ownership of assets via bargains and fire...
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...
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...
For a change
“If you do not change the direction in which you are going, you will end up where you are headed.” The advice from Laozi provides a timeless warning, and in this issue the winds...
PE funds: check your buyback terms have the PRC’s seal of approval
As a common international practice, private equity (PE) funds will regularly write equity or share buyback terms into the investment agreements they execute with investee enterprises. The reason for these terms is that in...
Are VIEs still VIE-able?
Are variable interest entity (VIE) structures still viable as an investment structure in China?
VIE structures became an investment structure for the PRC in the late 1990s with the US listing of Sina. But since...
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...
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...
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...
Another brick in the wall
An internal memo from the China Securities Regulatory Commission has thrown the future of the variable interest entity into doubt. With this, and new requirements for a national security review and anti-monopoly review, China...
CSRC revises rules on asset restructuring and related financing by listed companies
On 1 August, the China Securities Regulatory Commission (CSRC) published the Amendment of Provisions for Major Asset Restructuring and Related Financing by Listed Companies (CSRC Order No. 73) and the Application of Articles 13...
Making compliance matter
The word “compliance” covers a multitude of sins, from anti-monopoly filing and countering corruption to employment, the environment, trade, taxation and industry-specific regulation. But what are the key factors in designing a successful compliance...
Shanghai Stock Exchange amends rules on secretaries of boards of directors
On 15 April the Shanghai Stock Exchange (SSE) issued a revised version of the Shanghai Stock Exchange Secretaries to the Boards of Directors of Listed Companies Administrative Measures (Shang Zheng No. 12). The...
The difficulties of staying afloat
With the once-hyped ChiNext beset by market doubts, could the expansion of the new third board and the international board restore market confidence? Raymond Yang investigates
In 2010, 347 Chinese companies listed on Chinese stock...
Environmental checks for listed companies tightened
Following the Documents to be Submitted When Production and Operating Companies in Heavily Polluting Industries Apply for IPO Notice, issued by the China Securities Regulatory Commission (CSRC) in January 2008, the Ministry of Environmental Protection...
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...
NDRC moves to regulate private equity
The regulation of private equity and venture capital in China is evolving quickly. In late December, Shanghai announced a pilot scheme to allow foreign general partners to invest foreign currency in private equity funds...
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...
State-owned venture capital exempted from obligation to transfer holdings of state-owned shares
On 13 October the Ministry of Finance, the State-owned Assets Supervision and Administration Commission, the China Securities Regulatory Commission and the National Council for Social Security Fund jointly issued the Exemption of State-owned Venture...
Hong Kong, Taiwan companies join QFII plan
In a sign that Beijing is strengthening economic ties with both Hong Kong and Taiwan, the Hong Kong Monetary Authority (HKMA), as well as Capital Group and Fubon Financial Holding, both from Taiwan, have...
Transferring from the OTCBB to Nasdaq
In order to meet differing capital requirements,ents, the US securities market is split between the stock exchanges and the over-the-counter trading market. The former predominantly serve the capital-raising needs of large US or even...
Stock exchanges issue codes of conduct for controlling shareholders and de facto controllers
The Shanghai Stock Exchange and the Shenzhen Stock Exchange each published guidelines in late July to further regulate the acts of controlling shareholders and de facto controllers of listed companies.
Shanghai Stock Exchange
The Shanghai Stock...
State Council announces reform of approvals for fifth batch of projects
On 4 July, the State Council published the Cancellation and Decentralization of Administrative Approvals for the Fifth Batch of Projects Decision (Guo Fa No. 21), involving a total of 184 types of project, among which...
Foreign involvement in crisis financing
Provisions in the new PRC Enterprise Insolvency Law regarding restructuring, debtor-in-possession financing and other related procedures provide opportunities for foreign involvement in crisis financing in China, including the reorganization of entities in crisis. However,...
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...
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...
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...
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...
Legal news: Garrigues, Martyn Huckerby, Shao Zili, JSM, Grant Chen, Mao Rong
Spain to Shanghai
In readiness for the Shanghai Expo 2010, Spanish law firm Garrigues has advised the Spanish government, the Spanish Agency for International Exhibitions (Sociedad Estatal para Exposiciones Internacionales), Madrid Expo and the Madrid...
Making hay while the sun shines
As China emerges from the economic downturn, the rules of the game have changed. Law firms are adapting to the new environment, and in-house counsel are under pressure to do more work in-house By...
HK voluntary code for data provider ESG rating
The Securities and Futures Commission of Hong Kong (SFC) is sponsoring the International Capital Market Association (ICMA) to form a working group tasked to develop a voluntary code of conduct for environmental, social and...
Gears changing
Path to internationalisation of arbitration in China
Jiang Lili - BAC/BIAC
Innovative rules, upgraded mechanism
Wang Chengjie - CIETAC
Swift winds of change sailing foreign-related maritime arbitration
Li Hu - CMAC
The ‘Asian...
Chance Bridge Partners expands teams in Shanghai and Shenzhen
Chance Bridge Partners bolstered its teams in Shanghai and Shenzhen with the addition of new partners in January.
In Shanghai, the firm welcomed Jason Wu, Hou Nini and Wilson Tang, while Luo Siwei joined the...
Technology neutrality
THE PAST DECADE has seen extraordinary growth in technological innovation. In relation to financial services, innovation has been driven by financial technology or fintech and has been spurred in particular by blockchain technology and...
Hong Kong type 9 licence (asset management) applications
As China’s financial reform and global engagement deepens, accompanied by an increasing demand for cross-border investment and financing, domestic asset management institutions are actively expanding their operations abroad. Hong Kong, a prominent international financial...
Look before you leap
Geopolitical tensions have by no means doused Chinese enterprises’ enthusiasm for outbound direct investment. However, they are required to be more selective with their targets. Wu Xiaohui, general counsel and chief compliance officer at...
Linklaters, Zhao Sheng advise HKEX on Swap Connect scheme
Linklaters and its Chinese joint operation partner Zhao Sheng Law Firm advised the HKEX on the Swap Connect scheme, providing global investors with initial access to mainland China’s interbank financial derivatives market via Hong...
The logic of reforming trust company operation and governance
According to the State Council Institutional Reform Plan, establishment of the National Financial Regulatory Administration (NFRA) evolves the new regulatory system from the original mixed-operation and sectoral model of regulation to a functional and...
Hong Kong issues first tokenised green bonds
Allen & Overy, Linklaters and Ashurst have acted on the debut of HKD800 million (USD1.02 million) worth of government-issued tokenised green bonds in Hong Kong, the first of its kind in the world.
Hong Kong-based partner Agnes...
Disputes specialist joins Sidley Austin in Hong Kong
Sidley Austin is expanding its commercial litigation and disputes business by hiring partner Stephanie Chan, who joins the firm’s China corporate and finance group.
The Hong Kong-based partner specialises in contentious regulatory matters, commercial litigation...
Financial product governance
PRODUCT GOVERNANCE for financial products is an increasingly important area for banks and regulators. In part, this reflects the increasing complexity of financial products as a result of technological innovation (for a discussion of...
Tax relief for financial institutions in disposal of non-performing asset claims
On 30 September 2022, the Ministry of Finance (MOF) and the State Taxation Administration (STA) issued the announcement No. 31 of 2022, which provides for VAT, stamp duty, deed tax, real property tax and...
Sunshine Insurance raises HKD6.7bn in Hong Kong H-share listing
Sunshine Insurance, a leading private insurance group in China, issued H shares for the first time in an HKEX IPO, raising HKD6.705 billion (USD861.4 million) and becoming the fourth largest listing on the city’s...
Long roots, strong branches
In May 1954, the central government made the decision to establish a foreign trade arbitration commission within the China Council for the Promotion of International Trade. Thus, arbitration, along with the internationally aligned principles that...
Defining ‘bona fide holder’ in commercial factoring, bill recourse
A previous article titled Non-causality and causality of commercial acceptance bills, discussed unlawful bill trading in bill recourse dispute cases, with commercial factoring companies or micro-loan companies often seeking recourse as bill bearers, stressing...
Banking on effective mandates
THIS COLUMN DISCUSSES the role of central banks and why it is important for them to have clear mandates. It then identifies some of the key elements required to enable central banks to perform...
Former SFC executive director in HK joins Kirkland & Ellis as partner
Brian Ho, the former executive director of corporate finance at Hong Kong’s Securities and Futures Commission (SFC), has joined Kirkland & Ellis’ transactional group as a partner.
Ho had been dedicated to regulatory duties for...
Former Hong Kong SFC counsel moves to Debevoise
Debevoise & Plimpton has strengthened its litigation practice with the hiring of former Hong Kong Securities and Futures Commission (SFC) counsel Samuel Fung, who served at the regulatory body for more than three years.
In...
Pipeline network eligibility for securitising finance lease assets
As one of the most common types of underlying asset in asset securitisation, claims under a finance lease have long been at the forefront in terms of issuance scale and size. In practice, when...
Compliance experts join JunHe
JunHe has appointed Leon Liu and Carol Sun as partners in Shanghai.
Previously, both were partners at Yuanda China Law Firm specialising in government enforcement and cross-border regulatory compliance. Liu was also a co-founder of...
Leung joins Eric Chow as litigation partner
Eric Chow & Co, an association firm by Commerce & Finance Law Offices, has hired Christy Leung as a partner in its litigation department.
Leung focuses on contentious regulatory matters and complex commercial disputes in...
Regulating crypto assets
THE PAST DECADE has seen extraordinary growth in technological innovation. The emergence of blockchain technology – and more broadly, distributed ledger technology – has led to a range of innovations in areas such as...
Protecting consumer financial well-being
HAVING PREVIOUSLY DISCUSSED using plain language for financial consumer protection in relation to disclosing risks associated with complex financial products (China Business Law Journal volume 2, issue 8: Plain language in English and Chinese),...
Harneys and Davis Polk advise on Luckin debt revamp
Luckin Coffee has completed two debt restructuring plans, ending the cross-border bankruptcy proceedings under chapter 15 of title 11 of the US Code. Davis Polk acted as legal counsel and Harneys advised on Cayman...
Rights to benefit from equity under debt-to-equity schemes
Financial asset investment companies may acquire creditors’ rights of banks on businesses for the purpose of market-based conversion of those debts to equity, or set up debt-to-equity investment schemes for the investment in market-based...
Compliance analysis of NFT projects under Chinese
Although China has not promulgated laws on non-fungible tokens (NFTs), the author believes that they are virtual goods or virtual properties under Chinese law; so in the absence of further clear legal provisions, legally...
DAOism: a new kind of faith
The idea for a decentralised autonomous organisation, where the rules are baked into its code with no management structure or board of directors, has emerged with the rise of blockchain technology. Andrew Godwin examines...
Compliance reform by trust companies under tightened regulation
By December 2021, the transition period for new asset management regulations was nearing its end, and trust companies have made remarkable progress in planning their transformations. During the transition period, regulation intensified with the...
HK, Singapore debut SPACs
Hong Kong and Singapore stock markets have started the year by commencing their first special purpose acquisition companies (SPACs), Singapore with three listings, while Hong Kong had seven listing applications as of February.
Also known as...
Deal highlights
Capital Markets
Trinity Acquisition has submitted its application for a SPAC listing on the Stock Exchange of Hong Kong, one of the first applications under the new SPAC listing regime. Goodwin advised Trinity Acquisition on...
Chapter 18A listings of biotech companies on the HKEX
Since Hong Kong Exchanges and Clearing Limited (HKEX) added chapter 18A to its main board listing rules in April 2018, allowing biotech companies with no revenue or profits to be listed, Hong Kong has...
How financial institutions reorganise via creditor committees?
When heavily indebted non-financial companies suffer a liquidity crunch or default on repayment, creditors can often panic and spark an all-out scramble to recover their money that seems to be intent on squeezing the...
Burning ambition
Amendments to key legislation may make China a Model Law country to the greatest extent possible, but will that be enough for the dispute resolution sector to be considered truly international? Luna Jin reports
Practitioner's Perspective Article...
HK plays catchup on SPAC listing
Hong Kong is proposing to allow listings of special purpose acquisition companies (SPACs) to catch up with its global counterparts.
The SAR’s biggest Asian competitor, Singapore, gained a head start by allowing SPAC listings on...
Current status of CMBS offerings and key concerns
Based on the core of policy “that housing is for residing, not for speculating”, real estate financing has become increasingly tighter. Given such advantages as long terms, relatively low financing costs, low repayments during...
Testing the wind
Senior practitioners say compliance is the windvane for regulatory trends in the past year and the foreseeable future, leading fundamental operational changes for some companies while also offering a high-altitude airstream of unprecedented opportunities....
XPeng drives dual-primary listing wave in HK
Chinese electric vehicle (EV) maker XPeng has raised HKD14.03 billion (USD1.8 billion) from its Hong Kong share sale, making it the first dual-primary listing with a weighted voting rights (WVR) structure on the bourse....
Efficiency boost as certificates of no violation replaced
The Guangdong government this year published its plan to replace the certificate of no violation with credit reports, allowing companies to print out their own reports showing they have not broken any laws or...
Key changes to regulations on sale of WMPs
On 11 May 2021, China Banking and Insurance Regulatory Commission (CBIRC) issued the Provisional Measures for Sales Management of Wealth Management Products at Wealth Management Companies, to be effective from 27 June 2021. The...
As easy as ABCP: the renewal model in asset-backed securitisation
Asset-backed commercial paper (ABCP) was launched by the National Association of Financial Market Institutional Investors in June 2020 as an innovative financing product derived from traditional asset-backed notes (ABNs).
Based on its short maturity...
Choosing the right exchange to IPO is a strategic move
The capital markets in mainland China, Hong Kong and the US, as the main exchanges on which Chinese enterprises list, have continued their trend of prosperous development. In the rush for IPOs, how should...
Three questions on medical data compliance
On 10 June, the eagerly awaited Data Security Law (DSL) was passed, which clearly provides that each region and department is responsible for the data collected and generated in their work, and the security...
SPACs and traditional IPOs: an offshore perspective
Offshore jurisdictions have long been a popular choice as listing vehicles and feature prominently on more than 20 exchanges worldwide.
On the leading US and Asian exchanges, Cayman Islands, British Virgin Islands (BVI) and Bermuda...
Market SPACulation
Chinese companies have been at the forefront of the SPAC wave in the US, but geopolitics is pointing to a possible pivot to Asia. However, shifting market dynamics may be a spanner in the...
HKEX mulls listing reforms for overseas issuers
The Hong Kong Stock Exchange has published a consultation paper on proposed listing rules amendments to streamline listing regimes for overseas issuers that are incorporated outside of China and Hong Kong, including those with...
In-house Counsel Awards 2020
In-house Counsel Awards 2023
In-house Counsel Awards 2022-21
China Business Law Journal reveals the country's leading in-house counsel and corporate legal teams. Lynn Zhang reports
View the awards list
The year 2020 was unlike any other,...
Enforcement notarisation can guard against and control financing risks
Jack Ma says that enterprises are always short of money. Regardless of whether it is a small enterprise that wants to grow big, or a large enterprise that wants to grow strong, they all...
Harbouring ambitions
The Hong Kong government is keen to take a big bite of the global asset management pie, and with its new law on limited partnership funds it is showing serious intent to lure alternative...
Surfing boards
Reformations within China have amped up its capital market offerings, not to mention the Star Market’s stellar introduction. With US-based mainland companies looking homeward, is Hong Kong still the pearl of the oriental bourses?...
Standardized development trends of capital trust business
The China Banking and Insurance Regulatory Commission (CBIRC) issued the Interim Measures for Capital Trust Management of Trust Companies (Draft) on 8 May 2020. Since the release of the Guidance for Normalizing the Asset...
HK welcomes first SFC-regulated crypto fund
Arrano Capital has launched the first cryptocurrency fund in Hong Kong approved by the Securities and Futures Commission (SFC) for distribution to professional investors. The fund is a tracker fund that only buys and...
Controlling risks for non-standardised asset management products
Asset management products, as a type of important financial products, are characterized by portfolio management and complex transaction structure. The financial risks they have are represented by a mixture of multi-market and multi-category risk...
Points for SOEs transferring commercial bank equity
The Interim Administrative Measures for the Equity of Commercial Banks, issued on 5 January 2018, adhere to the “penetrative regulation” principle and limit the number of shareholders that a commercial bank may have. The...
In-depth coverage of CBLJ Forum in Shanghai
Today, Chinese enterprises engaging in cross-border business face formidable challenges. The global business environment is full of uncertainty, the geopolitical landscape is increasingly complex, and overseas laws and regulations on international business are being...
Deal highlights
China, Singapore in arbitration MOU
The Singapore International Arbitration Centre (SIAC) entered into a memorandum of understanding (MOU) with the Beijing Arbitration Commission/ Beijing International Arbitration Centre (BAC/BIAC) on 15 October 2019.
Under the MOU, the...
SOE H-share IPOs: Party building and corporate governance
Against the backdrop of state-owned enterprise (SOE) reforms, the Stock Exchange of Hong Kong (HKEX) has become the preferred IPO destination for SOEs as it can help improve corporate governance and achieve mixed ownership...
The gameplan
China has introduced some star-quality reforms to shoot its economy back to goal winning form, writes Richard Li
China's development is being challenged by a complicated and severe international environment. As a whole, the domestic...
RegTech and corporate disclosure
In recent times, regulators have begun to explore the use of technology to help them perform their regulatory and supervisory functions. Known as RegTech (a contraction of the terms “regulatory” and “technology”) and also...
New rules on managing funds from users of vehicle sharing services
The “internet+” boom sweeping through various economic sectors in China in recent years has driven new business models, including online car booking, car sharing and bike sharing services, to emerge and prosper in the...
Private funds v private asset management plans
With the promulgation of the Interim Measures for Supervision and Management of Private Investment Funds, the private fund industry has entered a new era of rapid and orderly development and continuous improvement of supervision...
The difference making-up clause and compliance risks
In recent years, financial institutions have tended to use the difference making-up clause as a new type of credit enhancement measure for a variety of reasons. The difference making-up clause involves various transaction design,...
The STIB’s IPO registration system
At the opening ceremony of the first China International Import Expo on 5 November 2018, President Xi Jinping mentioned that a Science and Technology Innovation Board (STIB) would be established on the Shanghai Stock...
Anti-bribery compliance of multinational companies
Recently, as regulators in various countries generally heighten enforcement efforts against bribery, domestic authorities are also improving their efforts in the fight against corruption. For multinational companies, observing anti-corruption regulations in and outside the...
Key compliance after anti-money laundering regulation upgrades
The Financial Action Task Force (FATF) adopted the Fourth Mutual Evaluation Report on Anti-Money Laundering and Combating the Financing of Terrorism in China in February this year. To submit to the FATF’s fourth evaluation,...
Pooling resources
M&A activity is undergoing a resurgence and there are now plenty of fish in the sea for acquirers looking to hook up with undervalued companies. Paul Cheuk reports
2018 was a year of turmoil for...
Investment inside and out
Mergers and acquisitions in China are expected to be more frequent in 2019. Pooling Resources points out that since the third quarter last year, the Chinese Securities Regulatory Commission (CSRC) has unleashed a fresh wave of...
Enter the dragon
Hong Kong’s stock exchange is stepping up its game to attract more listings away from the US and mainland China, writes Luo Weiteng
With the introduction of its biggest listing reform for 25 years in...
Compliance reviews of real estate trust financing business
The term “real estate trust business” mainly refers to the act whereby a trust company, through the establishment of a trust, manages, applies and disposes of, in the trust company’s name, the real estate...
Underlying assets review of non-standard asset-management products
Non-standard debt assets are debt assets not traded in the interbank and stock exchange markets, including, but not limited to, credit assets, trust loans, entrusted claims, acceptance bills, letters of credit, accounts receivable, various...
Eversheds welcomes two new partners
Eversheds Sutherland recently appointed Cedric Lam as a partner on the corporate team in Hong Kong’s office and head of intellectual property in the Greater China region.
Lam is an intellectual property specialist, advising multinational...
Levelling up
China has come to a new crossroads, where it needs to make important decisions on its future. It has chosen to go for a more efficient and open economy, writes Richard Li
This year marks...
Bank-trust business risk control under new asset management rules
Stringent regulation has remained a theme in the financial industry this year, and the Guiding Opinions on Regulating the Asset Management Business of Financial Institutions (the New Rules), which the regulators issued on 27...
