After MSCI’s recent announcement on the inclusion of China A-Shares in its Emerging Markets Index and other major global indexes, the inaugurated launch of the long-awaited Bond Connect scheme today marks another significant breakthrough in China’s capital market development, coinciding with the celebration of the twentieth anniversary of the formal establishment of the Hong Kong Special Administrative Region.… More…/更多
The Financial Services Development Council (“FSDC”) has just released its review of Hong Kong’s listed structured products market. The FSDC published its report on 18 April 2017. The report sets out the FSDC’s key findings following its comprehensive review of the listed structured products market, particularly in comparison to European markets.
By Paul Starr, James McKenzie and Nicholas Lee. King & Wood Mallesons’ Hong Kong office.
In the recently released “Report on Third Party Funding for Arbitration” (“Report”) the Law Reform Commission (“LRC”) has recommended that the Arbitration Ordinance (Cap. 609) be amended to permit third party funding in arbitration, mediation and litigation proceedings under the Arbitration Ordinance.
Though the reform still awaits passage through Hong Kong’s Legislative Council, should it go ahead it is likely to herald a flurry of activity in the funding space, with … More…/更多
By Paul Starr King & Wood Mallesons’ Hong Kong officeSummary
China’s Belt and Road initiative brings new investment opportunities but also an increased need for careful risk management. Prior to entering into any investments, it is important for contracting parties to consider their dispute resolution options and to ensure these are properly reflected in the contracts.
Arbitration has advantages over litigation, particularly when the courts closest to an investment are in countries where investors may be less familiar with the legal system. This case study discusses t… More…/更多
The foundational instrument for the enforcement of international arbitral awards, the New York Convention (the “Convention”), has made arbitral awards readily enforceable across the world but, in application, the Convention remains reliant upon the divide between domestic and international arbitration awards.
Cross-border enforcement of arbitral awards within the constitutional principle of “one country, two systems” and between the People’s Republic of … More…/更多
By Neil Carabine and James Wilkinson King & Wood Mallesons.
In the first six months since the Competition Ordinance (Cap. 619) came into full effect, businesses and trade associations have been active in reviewing their contracts and conduct to ensure compliance with the new law. The Competition Commission and Communications Authority, meanwhile, have received numerous complaints and queries in relation to potential breaches of the law.
In this article, we highlight some of the key developments since Hong Kong’s cross-sector competition law took effect in December 201… More…/更多
Hong Kong’s new competition law is now in effect and applies to all financial institutions in Hong Kong. Numerous financial institutions and payment systems participants have faced penalties by competition authorities overseas for anti-competitive conduct, and similar fines may now be imposed in Hong Kong. It is therefore vital that financial institutions ensure their compliance programs, internal reviews and leniency strategies contemplate Hong Ko… More…/更多
By Raymond Wong King & Wood Mallesons’ Hong Kong Office.
The Hong Kong Competition Ordinance (Cap. 619) (the “Ordinance”) will be fully implemented on 14 December 2015 in Hong Kong. Like competition laws in other jurisdictions, the Ordinance aims to protect and promote fair market competition by prohibiting certain conduct that prevents, restricts or distorts competition in Hong Kong.
By Justin Lo, Alan Zhang and Alice Leung, King & Wood Mallesons’ Hong Kong Office
The growth in cross-border investment has led to more complex relationships between commercial parties, particularly where foreign elements are involved. Commercial parties are increasingly choosing international arbitration as the means to resolve their disputes.
For parties considering arbitration in the Asia Pacific Region, Hong Kong is an attractive arbitral venue for a number of reasons.
Independent and robust legal system
Hong Kong’s legal system is based on the rule of law, inde… More…/更多
The regulatory framework and application details for mutual recognition of publicly offered funds (MRF) between the Mainland and Hong Kong were finally released after almost 2 years of market expectation. The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) signed a Memorandum of Regulatory Cooperation concerning Mutual Recognition of Funds between the Mainland and Hong Kong (Memorandum) on 22 May 2015, confirming the launch of MRF on 1 July 2015.… More…/更多
Tai Po is a traditional village located in the northeastern part of the New Territories in Hong Kong. Its historical relics, old temples, quaint fishing village and natural scenery make it a popular destination for both tourists and local residents alike.
The Hong Kong government began building up Tai Po in the late 1970’s, transforming it from a sleepy fishing community into a bustling new town of 300,000. In the last decade, the Government decided to tear down t… More…/更多
Rhombus Hotel and Resorts is a Vancouver based group that owns and operates three boutique hotels in Hong Kong. They are planning to open a fourth one next year to be named “Hotel MO by Rhombus” that they described in their website as “a Modern and Outstanding boutique hotel” in the heart of the Western District in Hong Kong. As part of the preparation for the hotel opening, they formed two Hong Kong companies, HOTEL MO LIMITED and HOTEL MO MANAGEMENT LIMITED. As they gear up for the opening, they encounte… More…/更多
Hong Kong’s Competition Bill (the Bill) was gazetted on 2 July 2010.(2) Formal public consultations on a cross-sector competition law for Hong Kong commenced in 2006. The Bill will be tabled in Hong Kong’s Legislative Council (LegCo) on 14 July 2010. When the Bill becomes law, it will be known as the Competition Ordinance (CO).… More…/更多
Hong Kong’s Financial Secretary, the Hon. John C Tsang, gave his annual budget speech Wednesday, February 24th. Buried in the 178 paragraph speech on the 2010-2011 Budget Report were two paragraphs relating to intellectual property rights. The issues mentioned by the Financial Secretary may benefit inventors and high-tech start ups. … More…/更多
Hong Kong is blessed with many favorable elements for business growth. The most prominent factors often cited for Hong Kong’s business success include its gateway role to China, the rule of law, and a location where goods, services and finance move freely. Such a positive environment has led to many success stories, particularly in the tech sector.… More…/更多
Nurturing the growth of a science and technology focused sector became a significant part of the government policies of the first post-1997 administration. Under the guidance of the late Professor Tien Chang-lin, former chancellor of University of California, Berkeley, the government issued a technology blueprint for Hong Kong shortly after the changeover, which led to a new period of innovation and growth in the tech sector.… More…/更多
Hong Kong has a strong venture capital industry and a vibrant capital market, which together afford a much needed financial backdrop for financing growth businesses. This business friendly environment provides funds for start ups as well as exit strategies for more mature companies. … More…/更多
To a large extent, angel investment in Hong Kong has so far revolved around individual investors rather than institutions. It is useful to examine local angel financing activities by looking at the angel profiles.To date, no systematic research has been conducted regarding the number or makeup of business angels in Hong Kong. General observations indicate that the following groups, not in any order, have been spearheading the efforts: (a) former VC practitioners; (b) individuals who have made money from entrepreneurial … More…/更多
Hong Kong has perhaps one of the most heterogeneous and interesting mix of startups in the world in terms of founder makeup, location of operational base and target markets. Founders of a Hong Kong startup, for example, could be made up of individuals from a wide variety of personal backgrounds, including locals, returnees mostly from North America, foreign expats, and PRC residents and returnees, especially those hailing from the Pearl River Delta. While a “Hong Kong startup” may be taken to mean the use … More…/更多
“Chow Sang Sang” (周生生) is a successful and well recognized name in the jewelry business. The name in Chinese has an auspicious meaning of “continuous growth” or “endless vitality of the Chow family”. … More…/更多
Angel investment in Hong Kong may be on the verge of an exciting transition from being an occasional engagement of a wealthy few to a more widespread, organized form of startup financing involving many more people with the wherewithal to invest. … More…/更多
The Hong Kong Government has decided to introduce a cross-sector competition law during the 2008-09 legislative session. The Government has published a draft framework for the competition law and is currently seeking public comments on this draft.
The introduction of a competition law is a significant step for an economy to take. Not all competition laws are the same and the most important thing is that the law is designed well to suit the Hong Kong economy.… More…/更多