Tag Archives: China

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Sit, Fung, Kwong & Shum acts for Lau

We acted for Mr. Joseph Lau, Luen-hung in the distribution of all the 74.99% shares in Chinese Estates Holdings Limited indirectly held under a discretionary trust founded by him. Chinese Estates is company listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock Code: 127) with market capitalisation of over HK$20 billion. After the distribution on 1 March 2017, Mr. Lau Ming Wai (the son of Mr. Joseph Lau) and Ms Chan Hoi Wan (the spouse of Mr. Joseph Lau), as trustee for her minor children Lau Chung-hok and Lau, Sau-wah, indirectly hold shares representing approximately 24.97% and 50.02% of the total issued share capital of Chinese Estates respectively.

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ASEAN TODAY – REGIONAL LEGAL AND BUSINESS NEWS – JANUARY 2017

ASEAN Economic Community News

Chiang Mai Initiative
The ASEAN member countries and Japan, China, and South Korea (ASEAN+3) plan to expand the Chiang Mai Initiative, an emergency multilateral currency swap arrangement that helps manage regional short-term liquidity problems and prevent another currency crisis. Currently, the overall pool is US$240 billion, but only 30%, US$72 billion, can be authorized for release under ASEAN+3’s authority. ASEAN+3 wants to move this amount to 40%, a US$24 billion increase.

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China Premier Li Keqiang discusses trade and economic issues in NY

Arnstein & Lehr Attorney Ronald Fieldstone

Ronald R. Fieldstone

I had the privilege of attending the New York Economic Club Dinner on September 20, 2016, for Premier Li Keqiang of the People’s Republic of China. The Premier held this position since March of 2013 and has been very active in the Chinese government since the 1990s. He was extremely engaging and articulate in his speech and responsive to the questions posed to him.

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CEPA’s New Era: from Approval to Record Filing 2016/6/28 15:55:54

一、历史及背景
《中国内地和香港地区关于建立更紧密经贸关系的安排》,或称“CEPA”,是中国内地和香港地区达成的第一个自由贸易协定。CEPA的主体协议系于2003年6月份签订。它为香港货物及服务贸易开启了巨大的市场。不积跬步无以至千里,自主体协议签署以来,中国内地和香港地区进一步紧密合作,扩展和丰富了CEPA 的内容;双方在2004年到2013年之间签署了十个补充协议,增强了市场的自由化,并加快促进了贸易和投资的发展。
2014年12月,在CEPA的主体框架下,《关于内地在广东与香港基本实现服务贸易自由化的协议》(以下简称“《广东协议》”)签署通过,实现了香港投资者在广东地区的普遍服务贸易自由化。
在《广东协议》的基础上,中国内地和香港地区继续协商,并于2015年11月27日签署通过了《服务贸易协议》(以下称“《协议》”),由此将服务贸易自由化的地理范围从广东覆盖到整个中国内地。
在这样的背景之下,2016年5月18日,中国商务部发布了《港澳服务提供者在内地投资备案管理办法》(以下称“《管理办法》”),上述《管理办法》已于2016年6月1日正式生效。

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Amendments to Anti-commercial Bribery made by Draft Amendment of Anti-Unfair Competition Law

On February 25, 2016, the Legislative Affairs Office of China’s State Council published the Draft Amendment of Anti-Unfair Competition Law of the People’s Republic of China (for examination) (hereinafter referred to as the Draft Amendment).

Zhong Lun Newsletter_Compliance_201605

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Italy-EU: Anti-dumping investigations on China

Italy-EU: Anti-dumping investigations on China – Closed on April 20, 2016, the EU open public consultation on the expiration of the provisions affecting the Non Market Economy Status of China.

Antonello Corrado – Exp Legal Italian and International Law firm

On February 10, 2016, the European Commission has launched a public consultation (http://trade.ec.europa.eu/doclib/docs/2016/february/tradoc_154258.pdf) concerning the methodology used in the EU to hinder Chinese’s anti-dumping practices.

The EU open public consultation on the expiration of the provisions affecting the Non Market Economy Status of China and the anti-dumping investigations on that country closed on April 20, 2016.

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China Legal Update – China Labor and Employment Law Newsletter

立法动态 Legislative Updates

☞国务院办公厅发布《关于加强外国人永久居留服务管理的意见》

国务院办公厅于2016年2月18日发布《关于加强外国人永久居留服务管理的意见》(下称“《意见》”)。该《意见》主要提出要推动建立以市场为导向的外籍人才永久居留申请标准,进一步便利外籍人才申请永久居留。《意见》还提出要调整各类永久居留申请情形,放宽优秀留学生等在华工作限制,扩大签发对象范围,使更多在华工作的外国人有资格申请永久居留。该《意见》同时还进一步明确了永久居留外国人在出入境、就业、购房、办理金融业务、申领驾照、子女入学、交通出行、住宿登记、社会保险等方面可以享受与中国公民的同等待遇。

General Office of the State Council Releases the Opinions on Strengthening the Management of Permanent Residence Service for Foreigners

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Impact of Article 43 of the Commercial Bank Law on PPP Projects 2016/3/29 14:41:10

With the widespread use of the PPP model in China, financing channels for PPP projects have also increasingly diversified.  Bank, trust, fund and insurance channels of capital have all rushed onto the stage of project financing. Subject to Article 43 of the Commercial Bank Law, banks, as the traditional big brother of financing, have always played the role of lender.  In practice, the opinions as to whether they can participate in the bidding on, and contributing capital to, PPP projects as private investors have been mixed.

A PPP project we recently advised on was called into question on a number of occasions because a commercial bank participated in the bidding as an investor and due to a difference of opinion among the parties on the understanding of Article 43 of the Commercial Bank Law. With respect to the project, the public party expressly stated in the bid invitation documents that “a bidder may be a consortium.

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CW attends 2016 For Children We Care Gala

Larry Yen and Lauren Liang attended the 21st annual For Children We Care Gala on Saturday night at Fairmont Hotel Vancouver. This gala event is organized by BC Children’s Hospital Foundation and the Chinese-Canadian community. It is well attended by the Chinese business community, and brings together business and community leaders, all in support of BC’s children. Larry Yen is a silver sponsor of the event, and Lauren Liang is a board member of the Chinese-Canadian Planned Gift Committee of BC Children’s Hospital Foundation.

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Chinese companies doing business in the U.S. build barriers to legal remedies

While an increasing number of Chinese companies are doing business in the U.S., China has nevertheless built a legal firewall around its financial services firms by refusing to acknowledge the jurisdiction of U.S. courts and regulatory agencies.

This makes it exceedingly difficult to serve Chinese companies in the U.S. with discovery, subpoenas and other documents seeking a reply. These challenges were spelled out in a May 5 report of the U.S.-China Economic and Security Review Commission, a government agency created by Congress in 2000 to oversee the national security implications of the two nations’ bilateral trade and economic relationship.

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