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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

作者：程世刚律师，金杜律师事务所争议解决组（国内诉讼部）

司法实践中，因逾期付款时的债务人违约责任约定不明而常发生争议。债权人在债务人逾期付款时可以主张逾期付款违约金，但就逾期付款违约金计算标准理解不一。不同当事人主张的逾期付款违约金计算标准不同，不同法院采取的裁判准则也不一致，导致对该问题的认识及做法混乱。现就上述问题进行简要阐述。Continue Reading 关于违约金计算标准的法律问题

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

Successfully handling rejection reviews, based on a prior similar mark, in the past has proven difficult.  Rather than simply giving up registration of an important trademark, recent China Trademark Review and Adjudication Board (TRAB) decisions indicate that an effective alternative for applicants is trying to reach a co-existence agreement with the owner of the cited…

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: Mark Schaub, Partner Shanghai Office of King & Wood，Corporate Group

Despite 30 years of opening up, actual Chinese government policy remains opaque. Although not as incomprehensible to the outsider as Kremlin watching was in the Cold War there are still few opportunities to really grasp what type of foreign investment is actually in favor at any given time. Circular 57, also known as Catalogue for the Guidance of Foreign Investment Industries (“Catalogue”) was overhauled late last year and does provide some hints in this regard.Continue Reading Reading the Tea Leaves: Changes to Foreign Investment Catalogue