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By Mark Schaub, Partner, Corporate, King & Wood Shanghai

China’s first Renewable Energy Law came into effect on 1st January 2006 and serves as a basis to meet goals like reducing air pollution; protecting human health and the environment; strengthening and developing energy supply to rural areas; promoting investment and development of renewable energy; etc. The PRC Renewable Energy Law is also a framework for various provincial government agencies and local authorities which implement the law in a large number of more detailed plans, rules and regulations. After four years of rapid change and expansion of China’s renewable energy sector, the Standing Committee of the National’s People’s Congress passed amendments to the Renewable Energy Law in December 2009, which now came into effect on 1 April 2010.

Continue Reading Renewable Energy Law in China

By Mark Schaub, Partner, Corporate, King & Wood Shanghai

See also: King & Wood‘s Tax Practice.

On February 20, 2010, the State Administration of Taxation (SAT) issued the “Measures for the Administration of Taxation on Representative Offices of Foreign Enterprises” (Guo Shui Fa [2010] No. 18) (the “Rep Office Tax Measures”) to reform the taxation rules applicable to representative offices of foreign enterprises in China (“Rep Office”). The Rep Office Tax Measures, which are retroactively effective from January 1, 2010, revise existing Rep Office taxation rules inter alia by abolishing previous tax exemptions and increasing the minimum deemed profit rate. Prior to effectiveness of the Rep Office Tax Measures, Rep Offices were taxed in one of three ways, (i) based on their actual profits (“Actual Profit Method”), (ii) based on their “deemed profits” (“Deemed Profit Method”) or (iii) not subject to tax (“Tax Exemption”) when certain criteria were met. The major changes brought about by the Rep Office Tax Measures include:
 Continue Reading China imposes tougher tax rules and administrative restrictions on Representative Offices

By Li Ruihai and Su Juan, King & Wood’s IP Department

Patent ownership disputes arise, when a party challenges the ownership of a patent right at the State Intellectual Property Office (SIPO) and files suit with the People’s Court to seek rectification of the ownership of the patent. Article 135 of the General Principles of Civil Law of the PRC (Civil Law) provides that "unless otherwise stipulated by law, the statute of limitations to file civil actions with the People’s Court shall be 2 years." The PRC Patent Law (Patent Law) provides no specific provision regarding the statute of limitations in patent ownership disputes. Hence, issue arises as to whether the court can, upon the defendant’s request, dismiss the plaintiff’s claim for patent ownership due to the statute of limitations for civil actions.

Continue Reading Limitation of Actions Regarding Patent Ownership Disputes

肖马克（合伙人）    金杜公司组               上海分所

每一家跨国公司都需要制定一个中国业务发展战略。中国经济在全球金融危机冲击下的坚韧表现使其对海外投资者愈发具有吸引力。不过问题是，投资公司应如何就个案项目中的潜在风险和机会做出真实的评估呢？Continue Reading 尽职调查：交易杀手还是交易救主？

By Mark Schaub, Partner, Corporate, King & Wood Shanghai

Every multinational company needs a China strategy. The country’s resilient economic
performance during the global downturn has made it even more attractive to some overseas
investors, but how should such companies arrive at a realistic appraisal of the potential
risks and opportunities of a specific deal?Continue Reading Due diligence: deal killer or deal saver?

By Ariel Ye and James Rowland, King & Wood’s Cross Border Litigation & Arbitration Group

Many foreign business operators report that they are concerned about the risks associated with entertaining their business partners in China, even when providing meals or offering to pay for travel and accommodation costs of a low value.
 Continue Reading Offering Gifts of Travel and Entertainment in China – What if the Recipient is a State Functionary

By Mia Qu and Bessie Ye, King & Wood’s IP Department

To many foreign companies, China remains attractive as the world’s largest potential market for pharmaceutical products. As such products rely heavily on the protection of intellectual property rights, it is essential for foreign companies in this field to adopt a combination of IP protection methods to formulate a strategy for their products in China. To this end, China has established a relatively comprehensive legal system in relation to IPR protection where intellectual assets are protected by way of patents, trademarks, copyrights, and trade secrets.
 Continue Reading Protecting Pharmaceutical Intellectual Property Rights in China

By Xu Ping, Partner, King & Wood’s FDI Department

In continued support of foreign direct investment into China, on April 13, 2010, China’s State Council released the Further Views on the Utilization of Foreign Capital (国务院关于进一步做好利用外资工作的若干意见). These new guidelines for foreign investment in China encourage foreign funds to flow into high-end manufacturing, hi-tech and eco-friendly sectors and to the central and western areas of the nation. The guidelines restrict investment into environmentally unsound projects and in sectors suffering from overcapacity. Meanwhile, the new guidelines also promise more favorable policies for foreign-funded companies, including an array of new tax incentives.Continue Reading China Reaffirms Support for Foreign Investment

By Guan Feng and Wu Sijie, King & Wood’s Litigation & Arbitration Group

In 2008, a financial derivatives dispute arose between a foreign-funded bank (the "Bank") and a local Chinese company (the "Company"). Although both parties executed certain documents to conclude the transaction, due to adverse changes in the international financial environment, the Company denied that the parties had entered into any contract regarding the derivative transaction and refused to perform. As a result, the Bank initiated a lawsuit against the Company to seek damages.
 Continue Reading Culpa in Contrahendo: PRC Judgment in Dispute over Financial Derivatives Services