China’s updated Company Law (the “new Law”) took effect on July 1, 2024. First promulgated on December 29, 1993, the PRC Company Law has undergone two substantial updates during its 30 years of development, the previous one...more
On June 6, 2024, Premier Li Qiang signed a State Council decree introducing the Regulation on Fair Competition Reviews (the Regulation) effective August 1. According to the Regulation, administrative agencies and...more
Types of M&A Transactions – – Takeover bids (like a U.S. tender offer) – Plans of arrangement – Amalgamations (like a U.S. merger) – Asset sales – Share sales (e.g., private purchase of control block) –...more
The fifth and final installment of a series of alerts focusing on practical issues relating to China’s new Foreign Investment Law. Foreign investors seeking to exit from their existing foreign invested enterprises (FIEs)...more
The second installment of a series of alerts focusing on practical issues relating to China’s new Foreign Investment Law. The two current models of foreign loans for Foreign Invested Enterprises reflect the Chinese...more
Since the beginning of the COVID-19 outbreak, the Chinese government has been concerned about the pandemic’s economic impact and swiftly adopted a range of measures to support businesses, foreign trade and investments....more
On its face, China's new foreign investment law appears to drastically open the country up to foreign investment – what with an ever-decreasing “negative list,” rules aimed at eradicating intellectual property restrictions,...more
The comprehensive establishment of China’s Social Credit System (SCS) has already started. In July 2019, the State Council again issued Guiding Opinions to accelerate the establishment of the SCS and a credit-based new...more
Ever since China began opening up to the outside world, the right of foreign-invested enterprises ("FIEs") to make equity investments within the People's Republic of China (which for these purposes refers to Mainland China...more
On November 1, 2019, China's Ministry of Justice ("MOJ") released a draft version of the Implementation Regulations on the Foreign Investment Law ("Draft Regulations"), aimed at facilitating the new Foreign Investment Law...more
China is marching on to be the world's pioneering cashless society but unfortunately there is an almost complete absence of foreign counterparts in the huge Chinese domestic or cross border transactions initiated from China. ...more
Between July and August 2019, China's State Administration of Foreign Exchange ("SAFE") made one step forward towards China's comprehensive foreign exchange reform. The local branches of SAFE in China's 12 Free Trade Zones...more
In 2016, the value of RMB depreciated over 6% against the US dollar and China’s foreign exchange reserves dropped sharply. Such depreciation of RMB and the continuous capital outflow at extraordinary levels have caused the...more
On September 3, 2016, the Standing Committee of the National People’s Congress (NPC) adopted the Decision on Revising Four Laws, Including the Law of the People’s Republic of China on Wholly Foreign-Owned Enterprises (NPC...more
China has been quite successful in encouraging foreign investments since the Sino-Foreign Equity Joint Venture Enterprise Law was promulgated in the beginning of the country’s economic reform in 1979. With the passage of...more
In order to implement the State Counsel’s decision issued on September 3, 2016 (State Counsel’s Decision), which simplifies the original substantive review and approval process (Approval System) to a new simple filing system...more
On October 1, 2016, the Decision of the Standing Committee of the NPC on Revising Four Laws, Including the Law of the People’s Republic of China on Wholly Foreign-Owned Enterprises (the “Decision”) came into effect. The...more
The current Chinese foreign investment laws were enacted decades ago. Under these laws the approval process is typically time-consuming and burdensome for a foreign investor. In an attempt to streamline the regulatory...more