By Tian Wenjing Gao Zhenkun Xu Yue Ma Ke King & Wood Mallesons’ Corporate & Securities Group
There’s been intense media coverage both at home and abroad about the 400 billion ruble (roughly 40 billion yuan) loan China has agreed to provide Russia for the Moscow-Kazan high speed railway project without requiring the sovereign guarantee
作者：莫里斯 & 莱恩
信用评级是社会信用关系充分发展的产物，它可以为监管部门、金融机构、投资者、企业商业伙伴提供相对客观的资信信息。从企业的角度来说，信用评级的影响主要体现在以下几个方面：首先，它是企业在交易活动中的“身份证明”，良好的资信等级可以改善企业形象，提高企业软实力；其次，信用评级会形成企业在资本市场的“准入门槛”，会在极大程度上扩大（抑制）企业的融资范围，提高（降低）企业的融资成本；再次，它会成为监管部门对企业实施管制的重要依据。诉讼风险作为可能威胁企业正常运营的特殊事件，对企业信用评级的影响一直受到研究者们的关注，但由于企业诉讼风险的测算标准各异，主要评级公司信用评级体系中诉讼风险的权重也一直难为外界所知，过去的实证研究成果得出了令人费解的结论：例如大部分研究认为企业诉讼风险会拉低企业信用评级水平， 而谢慧娴（2015） 发现，在使用改进的企业诉讼风险测算指标之后，企业诉讼风险并不会对企业信用评级产生显着影响。Continue Reading 诉讼风险精准评估启动信用评级革命
作者：徐晓丹 杨毅 金杜律师事务所商务合规部
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据《劳动合同法》第十七条规定，工作地点是公司与员工签订的劳动合同中的必备条款。一般而言，双方对于工作地点的约定较为明确、具体，最常见的是约定某个城市为工作地点。但是，在实践中，一些公司由于自身经营需要以及员工岗位特点，会需要员工在多个城市履行工作职责，并与员工在劳动合同中将工作地点约定为“全国”。个别公司希望，通过这种约定，在未来变更员工所工作的城市或地区时，无需与员工协商并取得员工的同意，从而实现单方变更员工工作地点的目的。
根据我们对北京、上海、广东三地的案例检索，我们注意到，各地法院对于将工作地点约定为全国的条款的看法并不一致。请看下文具体案例中三地法院对该问题的态度及裁判要点。
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By Rui Wang , Yibo Ge and Jun Zhang King & Wood Mallesons’ Corporate & Securities Group
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n April 28, 2016, the PRC Administrative Law on Overseas NGOs’ Activities within China (《中华人民共和国非政府组织境内活动管理法》) (“Overseas NGOs Law”) was passed through the 20th meeting of the Standing Committee of the 12th National People’s Congress. The
作者：汪蕊 戈易帛 张军 金杜律师事务所公司证券部
2016年4月28日，第十二届全国人大常委会第二十次会议审议通过《中华人民共和国境外非政府组织境内活动管理法》（“《境外NGO管理法》”或“该法”）。《境外NGO管理法》将于2017年1月1日起生效实施，是中国首次就境外非政府组织在华活动进行管理、监督和提供服务保障进行的立法。
《境外NGO管理法》从登记备案、活动规范、监督管理及法律责任等角度，对在境外合法成立的基金会、社会团体、智库机构等非营利、非政府的社会组织[1]（“境外NGO”）在中国境内开展活动的主要方面进行了规制，将对境外NGO在中国的发展产生深远影响。本文试图对该法的主要内容进行梳理，并针对其中的若干亮点进行讨论。
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By Mark Schaub and Chen Bing, King & Wood Mallesons’ Corporate & Securities Group
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ina cross border e-commerce has grown by leaps and bounds in the last 2 years since the PRC authorities encouraged the use of bonded zones. Some commentators have suggested the value of the business may have exceeded USD 3 trillion in 2015. The effects have not been limited to China as many international companies have seen their share price rise exponentially on the basis of the China e-commerce phenomenon. Cross border e-commerce moved from being a possible avenue to sell to the China consumer to THE only way to sell to China.
Just as everything was going so well, suddenly major concerns surfaced about the very future of cross border e-commerce in China. These concerns were due to a raft of regulations that were issued in April 2016 by a number of Chinese regulators including Ministry of Finance (“MOF”), General Administration of Customs, State Administration of Taxation, Food and Drug Administration (“CFDA”), Ministry of Commerce, General Administration of Quality Supervision, Inspection and Quarantine.
Continue Reading “Keep Calm and Carry On”: Keeping up with China’s changing rules for cross-border e-commerce
作者：金杜律师事务所
By King & Wood Mallesons
2016年4月29日，浙江哈尔斯真空器皿股份有限公司（简称“哈尔斯”，股票代码：002615）在金杜律师事务所专业法律团队的协助下，通过其香港全资子公司以现金收购的方式受让SIGG Switerland Bottles AG （简称“SIGG”）的全部资产，交易规模达1610万瑞士法郎（约1687.4万美元）。本项目是国内真空器皿行业首单民营企业跨国并购交易。
29 April, 2016, King & Wood Mallesons advised Zhejiang Haers Vacuum Containers Co., Ltd. (Haers, stock code: 002615) on acquiring 100% assets of SIGG Switerland Bottles AG (SIGG) for CHF 16.1 million (around US$16.874 million) in cash through its wholly-owned subsidiary in Hong Kong. The transaction marks the first cross-border M&A by a private enterprise in China’s vacuum containers industry.
Continue Reading 金杜助力哈尔斯成功跨境收购瑞士SIGG / King & Wood Mallesons advised Haers on its cross-border acquisition of SIGG
By Li Qiang King & Wood Mallesons’ Corporate & Securities Group
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n recent years, the Chinese government has been dedicated to the reform of state-owned hospitals and has issued a series of policy papers in this field, including Opinions of the State Council on Deepening Medicine and Health System Reform issued by the State
By Xiong Jin, Wang Kaiding , Huang Mengtian, Sun Yili, Luo Hai King & Wood Mallesons’ Corporate & Securities Group
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April 13, 2016, the National Development and Reform Commission (NDRC) published a consultation paper (Consultation Paper) on its website, seeking public opinion on the amendments (Amendments)
By King & Wood Mallesons
King & Wood Mallesons (KWM) has advised Chinese Kingenta Ecological Engineering Co., Ltd. (Kingenta) on its acquisition of COMPO Consumer from financial investor Triton.
Following the sale of the Expert division of COMPO last year, Triton has now sold the COMPO Consumer division to Chinese fertiliser producer Kingenta. COMPO Consumer is predominantly active in the field of manufacturing and marketing of fertilisers and pesticides, as well as potting soil, in particular in Germany and France, but also in many other European countries. The transaction is still subject to the necessary registrations in China and is expected to close early in the third quarter of 2016.
Continue Reading KWM advises Kingenta Ecologial Engineering on the acquisition of COMPO Consumer
