In 2004, when acting as Director of the Chinese Basketball Management Center (“CBMC”) and the Chinese Basketball Association, Yuanwei Li launched the “Polaris Program”, in which the CBA was to be transformed through assuming the NBA operational model with the hope that the implementation of this program could promote reforms for Chinese professional basketball.
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June 2009
Guarding State-Owned Assets – the PRC Enterprise State-Owned Assets Law
By King and Wood on
Posted in Banking & Finance
The Enterprise State-owned Assets Law of the People’s Republic of China (“State-owned Assets Law”) was adopted on the fifth session of 11th Standing Committee of the National People’s Congress on October 28, 2008 and become effective on May 1, 2009.
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SAFE Circular to Improve Forex Administration on Offshore Lending
By King and Wood on
Posted in Banking & Finance, Corporate
On June 9, 2009, the State Administration for Foreign Exchange (“SAFE”) issued the Notice on Certain Issues Relating to Foreign Exchange Administration on Offshore Lending by Domestic Enterprises (the “Notice”) effective as of August 1, 2009, in an effort to deal with the difficulties faced by offshore Chinese-funded enterprises that have “gone abroad” in obtaining financing offshore and increasing working capital, to encourage more domestic enterprises with strong capital strength to “go abroad”, and to enhance the use of funds by domestic enterprises.
King & Wood’s Finance Group
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