Banking & Finance

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By:Liu Zhigang, Partner and Lv Yinghao, associate, King & Wood’s Banking Department

In the final quarter of 2007, the National Association of Financial Market Institutional Investors (“NAFMII”) was authorized by the People’s Bank of China to release a standardized Master Agreement and supplements (“Master Agreement”) to serve as uniform documentation of inter-bank market participants in financial derivatives transactions. For those familiar with the International Swaps and Derivates Association Master Agreement (“ISDA Agreement”), its influence is evident in the newly adopted Master Agreement. Similar to the ISDA Agreement, the Master Agreement addresses an extremely wide variety of transactions, including most if not all derivatives allowed by Chinese law.Continue Reading ISDA: New Master Agreement Promotes Prosperity For Derivatives

By: Li Qiang, Partner

On March 13, 2008, the General Office of the State Council promulgated the Opinions of the General Office of the State Council on Implementing Some Policies and Measures for Accelerating the Development of the Utility Sector. (No.11 [2008] of the General Office of the State Council) In this opinion, it…

By Li Jinnan and Pan Ye of King & Wood’s Finance Group

I. Background

On October 17, 2007, the State Administration of Industry and Commerce ("SAIC" and its local counterpart "AIC") issued the Rules on Registration of Mortgage over Movable Properties ("New Rules")(1) , which came into force on the same day. As an implementation of the recently effective Property Right Law of the People’s Republic of China ("Property Law")(2) , these New Rules supersede the previous Rules on Registration of Mortgaged Movable Properties issued by SAIC in 1995 ("Old Rules")(3) . We herein set out an introduction on the key features of the New Rules in comparison to the Old Rules.Continue Reading New Rules on Perfection of Mortgage over Movable Properties

作者：刘志刚 金杜律师事务所融资组合伙人 吕膺昊 金杜律师事务所融资组律师

一、背景介绍

     中国银行间市场交易商协会（NAFMII，“协会”）是由银行间市场交易商组成的自律组织，成立于2007年8月底，其业务主管部门为中国人民银行（“人民银行”）。2007年10月12日，协会根据人民银行的授权公布了《中国银行间市场金融衍生产品交易主协议（2007年版）》，该文本包括《中国银行间市场金融衍生产品交易主协议》（“《主协议》”）及《中国银行间市场金融衍生产品交易主协议补充协议》（“《补充协议》”）、《履约保障品文件》及《履约保障品文件补充协议》、《中国银行间市场金融衍生产品交易定义文件》(1)（以下统称为“《衍生产品主协议》”）。《衍生产品主协议》是银行间市场参与者从事场外金融衍生产品交易的规范、标准文本。(2)Continue Reading 《中国银行间市场金融衍生产品交易主协议》发布

By Liu Zhigang and Lv Yinghao of King & Wood’s Finance Group

I. Background Introduction

On October 12, 2007, the National Association of Financial Market Institutional Investors ("NAFMII"), a self-regulatory body newly formed in late August of 2007 for Chinese inter-bank market players and operating under the direction of the People’s Bank of China ("PBOC"), was authorized by PBOC to release the standardized Master Agreement and its supplemental documents including the Schedule, the Performance Collateral Annex and the Definitions(1) (collectively the "Master Agreement and Supplements"). The Master Agreement and Supplements are intended to serve as a uniform documentation basis for the inter-bank market participants in financial derivatives transactions amongst them.Continue Reading Inter-Bank Market Financial Derivatives Master Agreement Promulgated