By Jiang Ke and Yang Nan King & Wood Mallesons’ Commercial & Regulatory Group
T
he newly released Online Publishing Service Rules, due to its multiple amendments to the previous Internet Publishing Interim Rules which has been implemented for almost 14 years, has caused widespread concern of China’s regulation on the online publishing. This article,
作者：徐萍 金杜律师事务所公司证券部
从境外破产或濒临破产的企业手中收购困境资产（distressed assets）已成为近几年中国企业境外投资的热点。尤其是自2007年全球经济危机以及之后爆发的欧债危机以来，欧美大量企业面临业绩大幅下滑、财务陷入危机甚至濒临破产。这为中国企业提供了跨境并购的良好契机，以低廉的价格收购财务困境资产或企业。
一般而言，在债务人不能偿付到期债务，或者债务人资产不足以清偿债务时，各国法律允许债权人申请债务人破产，或由债务人主动申请破产，通过对债务人实施破产重组计划，使破产企业继续经营，或者清算债务人的资产以偿还债务并解散破产企业。通过破产程序收购的资产不仅价格低廉，而且经过破产程序通常可以有效隔断目标企业的历史债务以及或有风险。
取决于相关国家的破产法规定，并购破产或濒临破产的企业，通常有以下特点。
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By Gao Chunkai Tang Siyu King&Wood Mallesons’ Foreign Investment Group
Introduction
The China Banking Regulatory Commission (CBRC) has released a new version of the “Rules for the Implementation of the Administrative Regulations of the People’s Republic of China on Foreign-invested Banks” (“Implementing Rules”), which will take effect on 1 September 2015.
The new Implementing Rules
By Huang Jianwen King & Wood Mallesons’ Investment Group
Although China has experienced rapid growth in the numbers of foreign non-governmental organizations (“NGOs”) carrying out activities within its borders in the past 10 years, foreign NGOs have remained loosely and ambiguously regulated in China. For example, as for the establishment of representative offices by foreign NGOs in China, currently only the Regulation for the Administration of Foundations provides the legal basis for foreign foundations to establish representative offices in China. There are no unified laws and regulations at the national level governing the establishment of representative offices or carrying out activities by the other foreign NGOs except for foreign foundations. This brings doubt and difficulty for many foreign NGOs carrying out activities in China.
The latest draft of the Foreign NGO Management Law (Second Draft) (the “Foreign NGO Draft Law”) can be seen as a preliminary attempt by PRC regulators to introduce more transparency and regulatory oversight to the often nebulous world of international NGOs operating in China. The Legal Affairs Committee of the Standing Committee of the National People’s Congress opened the Foreign NGO Draft Law to public comments, including those from foreign NGOs, on May 5, 2015.
Continue Reading Highlights of the Foreign NGO Management Law (Second Draft)
过去十年间，在中国境内开展活动的境外非政府组织在数量上迅速增加，但是中国法律法规对此的规范和管理一直较为松散和模糊。例如，关于境外非政府组织在中国设立办事机构，目前只有《基金会管理条例》为合法成立的境外基金会提供了依法在中国设立境外基金会境内代表机构的依据。而基金会以外的其他境外非政府组织在中国设立办事机构或者开展活动，缺乏国家层面的统一的法律法规。这为很多在中国开展活动的境外非政府组织带来了疑惑和困难。
最新发布的《中华人民共和国境外非政府组织管理法（草案）（二次审议稿）》（“《草案》”）可以看作是中国监管部门对国内模糊的国际非政府组织运作现状进行透明化和规范化的重要尝试。全国人大法工委于2015年5月5日公布草案，向包括境外非政府组织在内的社会公众公开征求意见。
Continue Reading 境外NGO在中国将有法可依
By Ramón García-Gallardo, Xiao Jin, King & Wood Mallesons
More than five years after the United States (“U.S.”) and China agreed to start negotiations of a bilateral investment treaty (“BIT”), the launch of the negotiations between the European Union (“E.U.”) and China towards a BIT was announced at the Sixteenth China-E.U. Summit held in Beijing on 21 November 2013.
Continue Reading The E.U.—China bilateral investment treaty
作者：Ramón García-Gallardo 肖瑾 金杜律师事务所
在美国和中国同意启动双边贸易协定谈判超过五年后，2013年11月21日，在北京举办的第十六届中欧峰会上也宣布启动欧盟和中国的双边贸易协定的谈判。
为什么欧盟和中国需要双边贸易协定
尽管欧盟和中国之间商品与服务的贸易价值每日超过十亿欧元，双方之间的投资在过去二十年增长迅速，但仍显示具有潜力。欧洲境外投资投向中国的部分所占比例不到5%，并且来自于中国的外商直接投资(“FDI”)仅占对欧盟外商投资的不到3%。双方均希望，在中国国内经济改革以及欧盟努力克服金融危机的背景下，通过全面的双边贸易协定减少双方在贸易及投资领域水平的明显差异，并继续推动现有的双方互惠合作。
Continue Reading 欧盟——中国双边投资协定
By Xu Ping Mark Schaub and Jennifer Yao King & Wood Mallesons’ M&A Group
On 19 January 2015, the Ministry of Commerce of the PRC (“MOFCOM”) published a discussion draft of the proposed new Foreign Investment Law (“Draft FIL”) on its official website for public comments. As part of a trend of transforming the role of government in the economy and simplifying red tape, this new legislation will revamp how China interacts with foreign investment which has been long-awaited.
China is not the same country when the Sino-foreign Equity Joint Venture Enterprise Law was promulgated in 1979. In addition to its rapid growth and developing economy, there has been in recent years strong and sustained growth in outbound investments by Chinese enterprises. This has led to China changing from a net capital inflow country to a net capital outflow country in 2014. No doubt China’s perspectives and strategies on both inbound and outbound investment regime have reshaped dramatically reflecting the changing economic landscape.
Continue Reading A New Era for the PRC Foreign Investment Regime —— An Introduction to the Discussion Draft Foreign Investment Law of PRC
