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Volvo strikes IT deal with HCL
Swedish automobile maker Volvo has agreed to divest its external IT business and outsource its IT infrastructure operations to HCL Technologies. The transaction is part of an efficiency programme announced previously, which aims to...
Eight Roads lead to Chai Point
Eight Roads Ventures (formerly known as Fidelity Growth Partners), the private equity arm of Fidelity International, has invested US$10 million in Bangalore startup Mountain Trail Foods, the owner of Chai Point, a network of...
Recipharm races to India with Nitin
Recipharm, a Swedish contract development and manufacturing organization in the pharmaceutical sector, has signed an agreement to purchase 74% of the shares Nitin Lifesciences, an Indian sterile injectables contract manufacturing company.
Recipharm will pay ₹6.71...
American Tower takes Viom shares
American Tower Corporation (ATC) has acquired 51% of the shares in Viom Networks. The sellers were Tata Sons, Tata Teleservices, IDFC Private Equity Fund III, Macquarie SBI Infrastructure Investments, SBI Macquarie Infrastructure Trust, SREI...
Carnival claims Chandigarh project
Carnival Group has acquired 100% equity in Elante Mall, Larsen & Toubro’s commercial real estate project in Chandigarh, for ₹17.85 billion (US$275 million). The stake was purchased from L&T Realty by Asian Business Connections,...
Dubey chronicles his life as a lawyer
Ranjeev Dubey, the managing partner of N South in Gurgaon, has published Legal Confidential: Adventures of an Indian Lawyer. The book, which was to hit Indian shops in the third week of November, tells...
Decision clarifies assignor’s rights in an ongoing case
Allowing an appeal in Sharadamma v Mohammed Pyrejan (Deceased) through Legal Representives & Anr, the Supreme Court recently held that an assignor or seller does not lose his or her interest in an ongoing...
No executive role in naming judges
The Supreme Court has quashed the proposed amendment to the Indian constitution regarding the appointment of judges in the higher judiciary. In doing so, the court declared the National Judicial Appointments Commission (NJAC) Act...
Baldia to boost Baker’s India bite
Sonia Baldia has moved from Kilpatrick Townsend & Stockton to Baker & McKenzie’s Washington office as a partner.
Baldia advises clients on US and global sourcing, technology and intellectual property transactions. Her sourcing practice covers...
Seagull soars south with Hammurabi
Hammurabi & Solomon has acquired Seagull Law, a Bangalore-based boutique firm.
Seagull Law was founded by Bharath, a litigation lawyer with over 15 years of experience in civil, criminal, commercial and constitutional matters. He has...
Five join Trilegal partnership
Trilegal has promoted five of its lawyers to the partnership. They are Upasana Rao (Delhi), Aniruddha Sen (Mumbai) and Rohan Ghosh Roy (Mumbai) in the corporate practice; Atul Gupta (Bangalore), an employment law specialist;...
Rajani and Singhania part company
Ravi Singhania and Prem Rajani, the managing partners of Rajani Singhania & Partners, have disbanded their partnership after two years together and returned to their respective practices. The decision to part ways was an...
Headed in the right direction
Dear Editor,
Discussions in your dispute resolution roundtable (Breaking bottlenecks) covered in the October issue, was almost prophetic in setting the mood for what is the need of the hour in terms of judicial reforms...
NCDRC imposed punitive costs on Godrej & Boyce
In Godrej & Boyce Manufacturing Co Ltd v Anagha Vilas Kulkarni, the National Consumer Disputes Redressal Commission (NCDRC) dismissed a challenge to orders of a district forum and a state commission, which were passed...
Journalist prevails against exchange in defamation suit
Holding that “defamation law is not to be used to gag, to silence, to suppress, to subjugate”, Bombay High Court recently dismissed an application for an injunction in National Stock Exchange of India Limited...
Wide-ranging coverage
Dear Editor,
I find that with every issue of India Business Law Journal there is a marked improvement in the content.
As always, I found the news section in your October issue, particularly the news about...
Listing in India: not for the faint-hearted
Are stock exchange rules a deterrent for cash-hungry Indian companies?
While finding a way through India’s complex listing rules may certainly be a challenge, primary listings by companies of quality – such as the parent...
CBLJ – October 2015
Volume 6, Issue 9
Highlights:
Sparks fly: Slowdown ignites fears of a new wave of disputes
Opportune road: Transacting wisely in South America
Finding balance: Sony Mobile’s China GC shares experience
Lexicon: Exclusion clauses
Subscribers can sign in to access the...
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Exclusion clause cases
Freedom of contract is a concept that is often discussed in jurisdictions around the world, particularly in common law jurisdictions where contract law – at least as it applies in a commercial context –...
China poised for green light on individual overseas investments
The internationalization of the renminbi was noticeably accelerated recently in light of the currency’s possible acceptance by the International Monetary Fund as reserve assets, known as special drawing rights (SDR).
China has stated that it...
Swiss regime on corporate names revised
The Swiss regulations regarding corporate names shall be harmonized for all legal forms of companies and partnerships by a new act passed by the Swiss Parliament, which is expected to come into force in...
UAE perspective on latent building defects
The rights and liabilities of contractors for latent defects depends not only on the terms of the particular construction contract but also the law of the jurisdiction in which the work is done.
This article...
Compulsory licensing in India and the ‘big pharma’ debate
A patent enshrines not only a bundle of rights given to an innovator or inventor, but also provides them with a timeframe for monopoly as given under the Agreement on Trade Related Aspects of...
HK court decision on scope of ‘China’ and implication for dispute resolution clauses
The High Court of Hong Kong heard an application earlier this year for a declaration that the arbitrator in the International Criminal Court (ICC) arbitration case no. 18228/C YK lacked jurisdiction and the arbitrator’s...
Paths to formalize employment relationships in Argentina
In our previous issue, we introduced a number of taxation issues at the national level in Argentina. For this column, we will discuss employment regulation.
In Argentina, the Employment Contract Law (in Spanish, Ley 20744...
Focus for real estate developers on understanding new Advertising Law
The new Advertising Law was implemented on 1 September this year. However, many mistaken interpretations of the new law have been making the rounds in relevant media and online, which have tagged it with...
Key policy changes under new notice on investment in private equity funds
China Insurance Regulatory Commission (CIRC) issued the Notice on Matters Related to the Establishment of Insurance Private Equity Funds on 10 September. The private equity industry is poised to benefit from the policy changes...
Key points on the market access negative list system
The State Council released the Opinions on the Implementation of the Market Access Negative List System on 31 October this year.
Although no concrete negative list is included in the opinions, the State Council laid...
Strategic investment in A-share companies by foreign investors
On 31 December 2005, the Ministry of Commerce, the China Securities Regulatory Commission, the State Administration of Taxation, the State Administration for Industry and Commerce and the State Administration of Foreign Exchange jointly issued...
Setting low thresholds for crimes not enough to strengthen IPR protection
Administrative, civil and criminal law provide the legal system to protect intellectual property rights (IPR). Yet administrative and civil sanctions alone are insufficient to make the public and transgressors aware of the seriousness of...
Determining whether a design alteration is patent infringement
Designs are a major factor of whether a product will satisfy consumer needs for personalization. A striking design can play a key role in expanding market share of a product which has relatively minor...
Surcharge compliance in international maritime shipping
International container shipping freight rates are the remuneration for maritime cargo transport services made by liner operators, including maritime freight and surcharges. The rates are regulated by the market and are determined by liner...
Neutralizing default risk
In cross-border financing, a parent company may not always be willing to offer a guarantee to its subsidiary’s debt. Lü Zhuo, Chen Si and Li Yuan from China Development Bank consider additional credit enhancement...
Guardian at the gate
Safeguarding IP and creating robust management systems can pose some of the greatest challenges to the legal head of a multinational clean energy firm. Hanergy’s senior inhouse counsel Pei Rui shares this and more...
Use of PPP transaction structure by civil airports in China
The rapid development of civil aviation in China has presented the development of civil airports with unprecedented opportunities. As of 2015, China is to construct 82 new airports, relocate another 15 and renovate or...
An examination of China’s PPP legal practice in 2015
The current public–private partnership (PPP) tide in China driven by the Ministry of Finance (MOF) and the National Development and Reform Commission witnesses the transformation and upgrading of large state-owned enterprises (SOEs). These enterprises,...
Building the future
Faced with an economic downturn and a glut of construction materials, China has turned to infrastructure, domestically and abroad, to build a secure future. Alainna Wrigley reports
In mid-October, the National Bureau of Statistics announced that...
MOFCOM probes and punishment for unfiled business concentrations
In September 2015, the Ministry of Commerce (MOFCOM) announced its punishments against four transactions of concentration of business operators for which no filing has been made. Pursuant to relevant laws and drawing from past...
A brief introduction to NDRC’s antitrust guidelines on IP misuse
Recently, the National Development and Reform Commission (NDRC) selectively released its consultation draft of the Antitrust Guidelines on Misuses of Intellectual Property Rights (IPRs) to stakeholders, scholars and law firms to solicit comments and...
We’re watching you!
China’s antitrust probes into industrial giants have been widely reported, but what are the implications for other market players? Joanna Law explores the key risks
The anti-monopoly regulations and their enforcement are evolving in China,...
Disputes are on the rise, and Chinese arbitration will need to lift its game
Recently recognized as the world’s second-largest economy, China has developed broader and deeper ties with international companies than ever before. But as China adjusts to what appears to be a new era of slower...
Key antitrust cases involving standard essential patents offer insight on protecting holders’ rights
Astandard essential patent (SEP, also known as a standard patent) is a patent claiming an invention that must be used to comply with a certain technical standard. Abuse from SEP rights holders limiting competition...
Tips and pitfalls to watch out for when investigating employee misconduct
It’s a common scenario many organizations find themselves in when doing business in China. An employee is found to be a shareholder or director of another company and has sent customer details or other...
Guidance on tax-free corporate reorganization amended
The State Administration of Taxation (SAT) issued the Announcement on Several Issues concerning Collection and Administration of Enterprise Income Tax (EIT) on Enterprise Reorganization on 24 June, amending procedural guidance on tax-free corporate reorganizations....
Beijing court denies employee’s request to rescind resignation
The Beijing Municipal No. 2 Intermediate People’s Court recently ruled against an employee who requested reinstatement of his employment relationship from his employer following his resignation.
The employee joined the company in October 1997 and...
HK changes proposal for automatic exchange of information for tax purposes
Hong Kong published an update regarding its proposal for the implementation of automatic exchange of information (AEOI) in Hong Kong on 12 October. The update identified changes adopted into the proposal following comments received...
Criminal Law amendment imposes tougher sanctions on corruption
The National People’s Congress Standing Committee adopted new amendments to the Criminal Law on 29 August, which became effective on 1 November. The ninth since the law’s passing in 1979, the amendments introduce stricter...
First foreign bank issues panda bonds in China
The People’s Bank of China (PBC) recently approved the first bond issuance by a foreign commercial bank in China, and the country’s debt markets may be further opened to multinationals.
HSBC, the first foreign bank...
HKIAC conference key speaker calls for forward thinking on contract expectations
This year’s keynote speaker at the Hong Kong International Arbitration Centre’s (HKIAC) ADR in Asia Conference discussed the theme “forward thinking” by proposing arbitrators and parties signing a contract to agree on their expectations.
“I...
Beijing court recognizes merchandising rights in Kung Fu Panda case
Beijing Higher People’s Court recently made a significant ruling in support of “merchandising rights”, which breaks through the barrier of China’s existing legal framework for protecting intellectual property, said legal experts.
“The PRC law provides...
China Cinda first test of Chinese debt on Channel Islands exchange
Channel Islands Securities Exchange (CISE) recently listed China Cinda Finance (2014) II as the exchange’s first debt issue with the ultimate parent company coming from mainland China.
“There has been a stock exchange in the...
Cross-border challenges
China’s GDP growth rate in the third quarter fell below 7%, a record low since 2009, but the market was not taken aback. The implication of the slowdown could only be that China's economy...
Upon the battlefield
Conflicts and competition permeate commerce, and the global economic slowdown has made it all the more important to be ready to face increasing contention.
Sparks fly finds the intense market environment has set off an...
Practical operation involved in quasi-equity investments by private equity funds
It is common in a private equity investment for the fund to extend a bridging loan to the target company before making the investment. This is because the target company may often be experiencing...
Transfer your assets prior to concluding a newspaper restructuring process
Professional papers and other publishing entities began restructuring after the State Council and Communist Party Central Committee promulgated the Opinions on Deepening Structural Reform of Non-Current Affairs Newspaper and Periodical Publishing Units in 2011.
Restructuring...
Issues worth noting when licensing online music rights
In the previous column, we briefly touched upon the unprecedented increase in copyright protection, as well as the intense efforts being made to protect music copyright.
The National Copyright Administration issued the Notice Ordering Online...
Features of utility models not necessarily precluded from protection
Autility model protects only the new technical solution to the form or structure of a product. In the claim, if the technology to be protected is just a replacement of material of one constituent...
How import-export enterprises can set up customs compliance systems
Since the General Administration of Customs (Customs) began fully implementing its economic operator accreditation system, authorized economic operators (AEO) have benefited from measures to facilitate customs clearance and are also eligible for corresponding facilitation...
Competition law across the river
Antitrust experts Suzanne Rab and Jet Deng introduce Hong Kong’s new Competition Law and what it means for mainland China
Hong Kong shares many historical roots with mainland China, but its legal and judicial system maintain...
Finding balance
Finding himself in a highly competitive industry, Peter Zhang is required to take into consideration both legal compliance and business requirements. He shares his views on the role of a corporate counsel with Richard...
Key issues toward efficiency in Chinese investments in Latin America
The next phase of China’s economic growth will require many Chinese companies to go global and seek international investments by acquiring companies and assets around the world. The rapid accumulation of capital through continued...
Opportune road
What sectors of key emerging South American economies are netting the most M&A activity from Chinese investors, and what should those investors be on the watch for? Alainna Wrigley reports
At the opening of a...
Law firm billing rates survey 2015
India law firm billing rates 2009
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India law firm billing rates 2014
India law firm billing...
Shopping for justice
Critics have slammed the practice of forum shopping, but can anyone put a halt to activities designed to ensure a triumphant exit from India’s litigation labyrinth? Amit Vyas explores the issues
“Forum shopping” or “bench hunting”...
Culture shock
Doing business in India can throw out cultural curve balls, even for those with roots in the country, writes Satjeet Sahota at Jefferies International
I was born and educated in London and have spent most...
Arbitration clauses: do’s and don’ts
Be specific when drafting an arbitration clause, says Chan Leng Sun, SC, at Baker & McKenzie
Drafting a valid arbitration clause is not rocket science. Many arbitral institutions offer sample model clauses – short but...
Breaking bottlenecks
Can disputes in India be resolved without getting bogged down in drawn-out court cases or troublesome arbitrations? Rebecca Abraham chairs an online roundtable to find out
India Business Law Journalrecently held an online roundtable to find out...
State charge struck down in ongoing ‘tax’ or ‘fee’ debate
While both “taxes” and “fees” are compulsory contributions towards government revenue, a tax is a part of a common exaction while a fee is towards specific services rendered. However, the dispute whether a charge...
Municipal bonds offer one creative financing solution
The capital requirements for developing smart cities over the next two decades are staggering. While some funding will be available from the central and state governments and urban local bodies (ULBs) for the initial...
Listing and disclosure rules consolidation: A good step?
The Securities and Exchange Board of India (SEBI) notified the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on 2 September. The regulations are designed to consolidate all post-listing requirements applicable to entities that...
Externalization: Can the government halt the trend?
Externalization is the strategy of incorporating holding companies in offshore jurisdictions for tax optimization and operational stability.
With India’s growth story gaining significant traction in the international marketplace, the prospect of Indian entities setting up...
Slogans/taglines: Sure shot way to advertising success?
In today’s competitive world, companies continuously try to come up with unique advertisements to promote and create awareness of their goods and services. Advertising in India, a country with so much diversity, is particularly...
Reverse engineering and India’s Copyright Act
Computer programmes or software are classified as “literary works” under the Copyright Act, 1957. Software owners assert copyright in their software, however source code (also protectable under the act) is usually kept confidential. If...
Court finds foreign investor complicit in flouting policy
There have been few court rulings offering interpretive guidance on the foreign direct investment (FDI) policy or the regulations under the Foreign Exchange Management Act, 1999 (FEMA). So the recent judgment of Bombay High...
Easing of road project exits opens up new opportunities
Buying and selling road projects in India just got easier. On 9 September, the National Highways Authority of India (NHAI) issued a circular relaxing the equity lock-in restrictions for concessionaires for its build-operate-transfer (BOT)...
Court arms journalists to be fearless and fair
The National Stock Exchange of India (NSE) brought a defamation action in Bombay High Court against Moneywise Media, Sucheta Dalal and Debashish Basu regarding two articles published on 19 June and 8 July 2015...
Pricing of rights shares renounced to non-residents
Foreign investment in India is governed by the Foreign Exchange Management Act, 1999, read with the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, as amended...
Canadian courts friendly to foreign judgment creditors
The recent decision of the Supreme Court of Canada (SCC) in Chevron Corp v Yaiguaje should assist Indian and other foreign judgment creditors seeking to enforce against a debtor’s assets in Canada, including Canadian...
Lenders’ forum and change in ownership issues clarified
The “Framework for Revitalising Distressed Assets in the Economy”, issued by the Reserve Bank of India (RBI) on 30 January 2014, requires banks and non-banking financial companies (NBFCs) to identify stress in their loan...
Clubbing ruled out for transactions in stamp duty case
Allowing an appeal in Chief Controlling Revenue Authority v Coastal Gujarat Power Limited and Ors, the Supreme Court held that a single mortgage executed in favour of a security trustee for the benefit of...
Two Indian parties cannot choose seat outside India
In M/s Addhar Mercantile Private Limited v Shree Jagdamba Agrico Exports Pvt Ltd, Bombay High Court recently ruled that arbitration between two Indian parties “has to be conducted in India” and that under section...
Non-employer may make payments to provident fund
In Ranbir Singh and Nafe Singh v M/s Ganga Ram Hospital, Delhi High Court recently held that “mere remittance” of provident fund payments by an entity does not create an employer-employee relationship between the...
Law does not apply to ground handling services contract
In Air India Ltd & Anr v S Gunahari & Anr, Bombay High Court held that the provisions of the Contract Labour (Regulation and Abolition) Act, 1970, do not apply to the contract for...
RBI clarifies reporting requirement under FACTA and CRS
The RBI, through a notification dated 28 August, has clarified the reporting requirements under the US Foreign Account Tax Compliance Act and the Common Reporting Standards (CRS). The Income Tax Rules, through a notification...
RBI launches e-filing option for FC-TRS returns
The Reserve Bank of India (RBI), by way of a circular dated 21 August, has enabled the online filing of FC-TRS returns under the government’s e-Biz project. This form is used to report the...
Share-based employee benefits rules amended
On 18 September, SEBI notified an amendment to the SEBI (Share Based Employee Benefits) Regulations, 2014.
An employee under regulation 2(1)(f) was previously defined as: (i) a permanent employee of the company who has been...
SEBI updates listing obligations and disclosure rules
On 2 September, SEBI published the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which come into effect on 1 December 2015. Two provisions, however, came into force with immediate effect. They are:
Passing...
Issue of capital and disclosure rules changed
On 10 September, the Securities and Exchange Board of India (SEBI) notified an amendment to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
Schedule XI, part A, paragraph (10), clause (b), sub-clause (iii)...
Facility sharing no longer treated as real estate business
On 15 September, the Department of Industrial Policy and Promotion (DIPP) clarified that facility sharing arrangements between group companies through leasing/sub-leasing arrangements for the larger interest of business would not be treated as “real...
Cipla enlarges US footprint
Indian pharmaceuticals manufacturer Cipla has agreed to purchase two US generics companies for US$550 million. Through its UK arm – Cipla EU – it will fork out US$500 million to take control of InvaGen...
PTC finances solar project
PTC India Financial Services, a special purpose investment vehicle of PTC India (a government-initiated public-private partnership) has provided a loan of ₹1.65 billion (US$25 million) to finance a 30-megawatt solar power project being set...
Malaysian buyer leaps for Leela
Metrod Malaysia and MetTube Malaysia have acquired The Leela Goa, a five-star resort. The hotel was purchased by Ceres Hotels, a subsidiary of MetTube Malaysia, for US$115 million. The hotel will be transferred to...
BLP Energy raises funds from Enel
BLP Energy has raised funds from Enel Green Power, an Italian multinational renewable energy company. BLP Energy develops and operates electricity generation facilities in India using renewable energy technology.
The amount raised was undisclosed.
J Sagar...
Prabhat Dairy puts milk on the market
Prabhat Dairy, an integrated milk and dairy products company, raised US$56 million through its initial public offering on the National Stock Exchange. It is the first dairy company to list in India.
Prabhat Dairy is...
Vidhi to take over Pfizer Thane plant
Pfizer has entered into a business transfer agreement to sell its Thane plant to Vidhi Research and Development for ₹1.78 billion (US$27.4 million). The plant was commissioned in the 1960s and supplied drugs to...
Practo takes the plunge with Qikwell
Bangalore-based Practo Technologies has acquired 100% of the shares in Qikwell Technologies India. Practo is a healthcare technology company which enables customers to find doctors and helps doctors digitize their practices through an app...
Sapphire gobbles a slice of Pizza Hut
Dodsal Group, a multinational conglomerate based in Dubai, has sold Dodsal Hospitality to Sapphire Foods India. Dodsal Hospitality has exclusive rights to operate Pizza Hut outlets in the south and west of India. It...
Kochhar draws partner in Dubai
Kochhar & Co has hired Faizal Latheef as a partner in its corporate and M&A practice in Dubai. Latheef joins the firm from Baker & McKenzie Habib Al Mulla and has 17 years of...
Luthra announces annual promotions
Luthra & Luthra has promoted lawyers across its organization following its annual review. Six lawyers were elevated to the partnership: Vasudev Dibbur, Anshul Jain, Sachit Mathur, Nirupam Lodha, Dipti Lavya Swain and Prashant Mishra....
TMT opens in Bhubaneswar
TMT Law Practice has opened an office in Bhubaneswar to cater to its clients in East India. The expansion comes shortly after the firm established a presence in Kolkata.
The Bhubaneswar office, which began operations...
Chaudhry becomes sole owner of LLS
Anuradha Salhotra, one of the name partners of IP boutique Lall Lahiri & Salhotra (LLS), has sold her equity share in the firm to managing partner Rahul Chaudhry.
Chaudhry, who has been with the firm...
Wadia and Nanda to take reins at JSA
The executive committee at J Sagar Associates has elected Dina Wadia and Shivpriya Nanda as joint managing partners with effect from 1 January 2016 for three years. JSA’s current managing partner, Berjis Desai, will...
Flipkart scoops up Samsung counsel
Samsung group general counsel Rajinder Sharma has joined e-commerce company Flipkart as its general counsel.
Sharma, who has held in-house positions at DuPont, JSW, Emaar MGF, Reliance ADAG and Bharti Airtel, said he was enticed...
A timely message
Dear Editor,
The article titled “Criminalizing civil disputes” by PM Devaiah in the July/August issue of India Business Law Journal could not have been more opportune.
One major contributor to the lack of ease of doing...
Juggling a handful of tricky issues
From dispute resolution bottlenecks to knowledge management woes, billing dilemmas and crash helmets, lawyers have a lot on their minds
Lawyers, like other professionals, need to air their grievances from time to time and courts...
Resolving disputes in concession contracts under the private-public partnership model
The public-private partnership (PPP) model refers to a cooperative partnership relationship between a government and a private entity based on a concession agreement in order to provide a certain public good or service. The...
Sparks fly
The economic slowdown has ignited fears of a new wave of commercial disputes, rekindling debate over how best to manage them. Leo Long reports
In the past year, arbitrators and attorneys have found themselves quite engaged as...
Inhouse counsel get critical advice on effective arbitration management in new ICC guide
In June 2014, the International Chamber of Commerce’s (ICC) Commission on Arbitration and ADR launched Effective Management of Arbitration: A Guide for In-House Counsel and Other Party Representatives on Effective Management of Arbitration. On 11...
Ready to arbitrate at CIETAC Hong Kong?
The China International Economic and Trade Arbitration Commission (CIETAC) Hong Kong Arbitration Centre (HKAC) has concluded several cases since CIETAC’s new Arbitration Rules took effect from 1 January. This article discusses the features of...
A look back at the past two decades of arbitration in China and what...
The Arbitration Law took effect in 1995, marking the formalization of China’s modern arbitration system. In the two decades since, arbitration has developed consistently and rapidly. Chinese arbitration has attracted international attention in recent...
The use of Hong Kong arbitration in resolving Sino-foreign infrastructure disputes
Chinese infrastructure projects have traditionally been dominated by domestic entities due to the restrictions which had been in place from the Ministry of Commerce. Since policies began to be relaxed in 2014, however, an...
New clarity on withholding taxes for Chinese banks with foreign branches
The State Administration of Taxation (SAT) gave new clarification on the withholding tax treatment for China-sourced interest received by foreign branches of Chinese banks in a bullet circulated this past June. The SAT’s Announcement on...
Preapproval no longer needed for cost sharing agreements
A new announcement from the State Administration of Taxation (SAT) removes previous requirements for cost sharing agreements (CSA) to undergo a review for approval, allowing a CSA to be executed immediately upon signing. The...
Criminal Law revision strengthens online personal data security
Telecoms, banks and other online service providers collecting personal data should take steps to review security and data protection policies in light of the higher sanctions for noncompliance.
The Criminal Law amendments issued 31 August...
Labour ministry draft regulations give guidance on complex labour issues
Draft regulations from the Ministry of Human Resources and Social Security (MOHRSS) recently circulated provide comprehensive guidance on a wide range of labour issues.
Released for public comment in June, the draft Regulations on the...
Major deal signals growing Chinese ship financing market
The lease of three of the largest container ships in the world has been agreed on by a Chinese financial leasing company, indicating the increasing momentum of the ship financing market in China, said...
New improvements to New Third Board listing mechanism
Regulators for the New Third Board have recently provided more clarification for its listing conditions, addressing the problems it found in its previous examination work.
Q&As for Listing on National Equities Exchange and Quotations (NEEQ):...
Four top regulators call on listed companies to breathe new life into capital markets
Four central authorities recently joined hands to stabilize capital markets via a joint notice stating their intent to encourage several revitalizing measures.
The Notice on Encouraging M&A, Restructurings, Cash Dividend Distribution and Share Buybacks by...
