2013年8月28日，国务院总理李克强主持召开国务院常务会议，指出“要在实行总量控制的前提下，扩大信贷资产证券化试点规模。优质信贷资产证券化产品可在交易所上市交易，在加快银行资金周转的同时，为投资者提供更多选择” 。随着信贷资产证券化常态化工作的稳步推进，作为银行重要资管手段、代表未来发展方向的信贷资产证券化正受到银行、证券公司、基金子公司、信托机构等各方越来越多的关注，那么，银行该如何开展信贷资产证券化的相关工作，在此过程中需要关注的具体法律问题又有哪些？ 本文以问答的形式针对银行信贷资产证券化业务过程中可能遇到的具体问题作出简要说明。
Continue Reading 资产证券化进行时——银行开展信贷资产证券化的具体问题解答
Who Can Initiate Class-action Lawsuits under the Draft Environmental Protection Law?
By Harry Du and Thomas McGinn King & Wood Mallesons’ M&A Group
At the end of October 2013, the Standing Committee of China’s National People’s Congress (NPC) finalized the third draft of amendments to China’s Environmental Protection Law (《环境保护法修正案（草案）》).
In light of the extensive debate so far, many speculate that the Law will undergo a fourth draft before the New Environmental Protection Law enters into force[1]. Such changes would constitute the first amendment to the Law since it came into force in 1989.
Continue Reading Who Can Initiate Class-action Lawsuits under the Draft Environmental Protection Law?
人民币国际化概述
- 国际化货币指一国货币超出该国法定流通区域，在世界范围内自由发挥计价、流通、支付和储藏的职能，成为国际上普遍认可的结算、投资及储备货币。
Continue Reading 人民币国际化概述
外资审批与合同效力
在外资业务中，经常会遇到与审批相关的三类合同效力问题：（1）经批准而生效的外资合同，比如中外合资经营企业合同[2]、中外合作经营企业合同[3]、外商投资企业股权转让合同[4]、外商投资股份有限公司发起人协议[5]，在得到批准之前，是否具有法律约束力？（2）经批准的外资合同所作的修改或者补充协议，如果未经批准，是否具有法律约束力？（3）外资合同签署前后签署的未经批准的框架协议、备忘录等法律文件，是否具有法律约束力？
本文尝试梳理相关法律规定和司法解释，剖析常见的法律问题，最后就解决方案提出建议。
Continue Reading 外资审批与合同效力
Another “Hold-Separate” Decision of MOFCOM—MediaTek’s Acquisition of MStar is Cleared with Conditions
By Susan Ning, Kate Peng and Chai Zhifeng
On August 27, 2013, MOFCOM announced its conditional clearance on MediaTek Inc’s (“MediaTek”) 4 billion USD acquisition of MStar Semiconductor Inc (“MStar“) (the “Transaction“). This is the second “hold-separate” case since this year (the other one is Xstrata/Glencore), and the forth one in China’s merger filing history. 1 MOFCOM appears to be getting more and more confident with the “hold-separate” arrangement as a behavior remedy to address competition concerns. It is also worth to note that the parties are required to submit detailed operation plan within three months of the decision and the transaction can only be closed after the detailed operation plan is approved by MOFCOM.
《反垄断法》的双轨制——行政执法与民事诉讼的互动
经过十几年的孕育和酝酿，《反垄断法》于2008年8月1日生效实施。这不但是我国法制建设发展的阶段性成果，更是中国市场经济发展的里程碑事件。《反垄断法》共8章57条，确立了一系列崭新的制度——不但反经济垄断，也反行政垄断；不仅有域内效力，还有域外效力；不但确立了公共实施，也肯定了私人执行。所谓反垄断公共实施(public enforcement)，即指国家赋权的反垄断执法机构开展的反垄断行政调查执法活动；所谓反垄断私人执行(private action)，那些自身利益受到反竞争行为影响的法人或自然人通过向法院提起民事诉讼来执行《反垄断法》的。在过去五年中，反垄断公共实施和私人执行共同构建和促进了我国《反垄断法》的实施。这两者相辅相承、相互补充，共同承担着《反垄断法》预防和制止垄断行为，保护市场公平竞争，提高经济运行效率，维护消费者利益和社会公共利益的使命。
《反垄断法》确立的反垄断民事诉讼与专门机构的反垄断行政执法相结合的“双轨制”符合当今世界各国和地区反垄断法实施的普遍做法和明显趋势，也是能够更为全面的在实践中切实落实《反垄断法》。然而，“双轨制”在实践也会存在一些问题，同一反垄断事件既在法院提起民事诉讼，又进行行政审查，难免有需要协调的方面。对于两个程序之间的协调，目前的一些规定虽然有所涉及，但仍有很多问题没有得到解决。本文意在对这些问题作一个梳理，希望能够抛砖引玉，同时也期待题述问题得以在实践中被司法机关和行政机构探索解决。Continue Reading 《反垄断法》的双轨制——行政执法与民事诉讼的互动
The Dual System of Anti-monopoly Law – The Interplay between Administrative Enforcement and Civil Action
By Susan Ning, Kate Peng, Jia Liu and Rui Li King & Wood Mallesons’ Antitrust & Competition Group
After more than ten years of deliberation and discussion, Anti-monopoly Law of China (AML) finally came into effect on August 1, 2008. This is not only a periodic achievement in the development of Chinese legal system but also a milestone event since the establishment of Chinese market economy. AML contains eight chapters and fifty-seven articles and sets up a brand new mechanism against economic and administrative monopoly with both domestic and international reaches and private and public enforcement. Public enforcement refers to administrative investigation and enforcement activities initiated by anti-monopoly agencies duly authorized by the nation. Private action refers to anti-monopoly civil action filed at the court by the legal or natural person injured by the anticompetitive conducts. In the past five years, the public and private enforcement have worked in tandem to promote the enforcement of AML. The two enforcement methods complement each other to prevent the anticompetitive conducts violating AML, protect fair market competition, enhance market efficiency, and safeguard consumers’ interest and the public interest.
Continue Reading The Dual System of Anti-monopoly Law – The Interplay between Administrative Enforcement and Civil Action
Eight Key Points about the Third Amendment to the PRC Trademark Law
By King & Wood Mallesons’ Trademark Group
The Standing Committee of the National People’s Congress passed the Third Amendment to the PRC Trademark Law (“Revised Trademark Law”) on August 30, 2013. The new Trademark Law will be implemented on May 1, 2014.
Continue Reading Eight Key Points about the Third Amendment to the PRC Trademark Law
《商标法》第三次修订的八大要点
作者：金杜律师事务所商标组
全国人大常委会于2013年8月30日通过了对中华人民共和国《商标法》的第三次修订（以下简称“商标法修正案”）。商标法修正案将于2014年5月1日起施行。
Continue Reading 《商标法》第三次修订的八大要点
中国律师代表境内企业在境外仲裁中的“增值效应”
作者：张守志、张梅、顾嘉、程晓燕 金杜律师事务所国际诉讼部
前言
国际商事仲裁是解决企业间国际商务争端的主要手段之一。随着世界经济一体化进程的逐渐深化，越来越多的中国企业主动地或被动地参与到国际仲裁程序之中。从中国律师的视角出发，依仲裁地、合同适用的准据法和仲裁语言的不同，我们一般可将国际仲裁分为三类。
Continue Reading 中国律师代表境内企业在境外仲裁中的“增值效应”