Foreign investment

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Duncan Hwang, Foreign Lawyer, King & Wood’s FDI Practice

class="MsoNormal" style="margin: 0cm 0cm 0pt">After the Qualified Domestic Institutional Investor scheme (QDII) was implemented in April of 2006 to help relieve pressure on the RMB by promoting capital outflows and Chinese companies in various industries in the private sector were encouraged to go abroad, China’s outbound investment totaled approximately $20 billion in 2007.

 Continue Reading New York: Current Trends Lead to Overseas Expansion

A few years ago, it seemed that Shanghai was on the verge of becoming the Asian city of choice for multinationals establishing regional HQs. However, this did not come to pass and it appears that this has caught the attention of the Shanghai Municipal Government…  

 

By Mark Schaub, Partner, King & Wood Shanghai Office, FDI

 Continue Reading Shanghai Encourages Regional Headquarters

By: Andrew Tan, a Partner Arculli Fong & Ng (in association with King & Wood, PRC Lawyers)

1.Introduction

On 6 June 2008, the Government of the Hong Kong Special Administrative Region (the “HKSAR”) announced the “Arrangements for the Implementation of Clean Development Mechanism (“CDM”) Projects in the Hong Kong Special Administrative Region” (the “Implementation Arrangements”). The Implementation Arrangements have been developed following consultations between the National Development and Reform Commission (“NDRC”) of China and the Environment Protection Department (“EPD”) of the HKSAR. The Implementation Arrangements sets out the specific procedures for Hong Kong companies to conduct CDM projects in Hong Kong…Continue Reading Renewable Projects in Hong Kong may Lead to Additional Reward?

By Wang Rui, Partner, King & Wood’s Olympic Group

As consideration for obtaining Olympic marketing rights, the official sponsors have contributed considerable funds and goods to the Olympic Games. The strong support of sponsors is crucial to the successful staging of every edition of the Olympic Games. As such, the International Olympic Committee (“IOC”) views the protection of the sponsors’ rights as an important aspect in the preparation and organization of the Olympic Games. The Government of the Beijing Municipality and Beijing Organizing Committee for the Games of the XXIX Olympiad (“BOCOG”) also solemnly have covenanted in the Host City Contract and the Marketing Plan that they will take all necessary measures to prevent and combat ambush marketing in any form…Continue Reading Anti-ambush Marketing Measures for the Beijing 2008 Olympic Games

By： Li Yongmei King & Wood’s Domestic Litigation & Arbitration Practice

Recent issues regarding Chinese products have focused on the gaps remaining in the law.  However, the gaps are quickly closing.  Product safety has become a top priority for China. Chinese authorities have streamlined the legislative process for product recalls at all levels…Continue Reading Chinese Law on Product Recalls- A Work in Progress

By: Li Wenbo   King & Wood’s  International Trade Group

Last month, Mr. Martin Lipton, of Wachtell, Lipton, Rosen & Katz, honored King & Wood with a speech on the implications of the “poison pill” in legal practice.  Mr. Lipton is noted for hisinnovative "rights plan", a series of defensive measures taken by the board of a target company in a hostile takeover.  The “rights plan” is meant to ward off hostile offers that substantially underestimate the value of the target’s shares.  The rights plan was later referred to as the "poison pill" by Wall Street bankers whose attempts at hostile takeover below fair value were frequently frustrated by the "rights plan."

Mr. Lipton’s speech inspired me to ponder the question of how defensive measures work in China’s corporate governance.  I then googled the word "poison pill" and "company" in Chinese, but found no instances of companies utilizing the poison pill within China.  So why is there no poison pill in China?
 

 Continue Reading Why No Poison Pill in China?

The “Law of the People’s Republic of China on Mediation and Arbitration of Labor Disputes” (“the New Law”) came into force on May 1, 2008. This promulgation has introduced many innovative concepts to Chinese law. The most notable change was the extension of the statutory period for filing arbitration applications in labor disputes.

By Xu Xiaodan,  King & Wood’s International Litigation & Arbitration Group.

Continue Reading Statute of Limitations Extended for Commencing Arbitration in Labor Disputes

The massive May 12, 2008 Wenchuan earthquake caused heavy property damage and saddening losses of life in the Chinese Providences of Sichuan, Shanxi, and Gansu. In order to support the earthquake relief and reconstruction effort, the Ministry of Finance and State Administration of Taxation has implemented post disaster tax deductions and exemptions. These relief measures impact affected individuals or enterprises, and also donations toward the relief effort. The most significant tax relief measures were announced in the “Notice on Implementing the Earthquake Relief and Reconstruction Tax Policies”(Notice 62). The taxes covered in the Notice included: enterprise income tax, individual income tax, house property tax, resource tax, stamp tax, urban land use tax, vehicle and vessel use tax, import tax.
 

By Zhang Yu, Wang Xiujuan, Chengdu Office of King & Wood, FDI

Continue Reading Tax Relief Policy in Post-Disaster Areas

Two sets of new measures have been issued in June 2008 (namely Measures for the Administration of Prohibited and Restricted Technology Import and Measures for the Administration of Import and Export Contracts Registration) which are likely to have a material, practical affect upon technology licenses and transfers to and from China. In November 2007, the Ministry of Commerce updated the Category of Prohibited and Restricted Technology Import.

The measures are a mix of devolution (i.e. the regulations delegate responsibility down to regional Bureaux of Commerce); increased regulation and supervision on the one hand but relaxation in other regards.

By Mark Schaub, Partner Shanghai Office of King & Wood，FDI   

Continue Reading New Technology Import Regulations May Cause Headaches for the Unprepared

In conclusion, after the transition from a fixed rate to floating rate for damages, conflicts may still arise during litigation or arbitration.
如上所述，中国人民银行将罚息利率由固定利率变为浮动利率后，在诉讼或仲裁主张逾期付款违约金时仍会存在标准上的争议．
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Continue Reading Calculating Late Payment Breach Damages