King & Wood

Subscribe to King & Wood's Posts
Follow:Read more about King & WoodKing &'s Linkedin ProfileKing &'s Tiktok Profile

By Wang Rui, Xiao Yu, and Andrew Fuller, King & Wood Mallesons’ M&A Group

汪律师Introduction

As early as 27 February 2014, President Xi Jinping, the head of the Office of the Central Leading Group for Cyberspace Affairs, said that “No cyber safety means no national security.”[1] On 1 July 2015, the National Security Law of the People’s Republic of China (《中华人民共和国国家安全法》)( NSL )[2] came into effect. For the first time, the NSL clearly provides that the state shall “safeguard sovereignty, security and development interests of cyberspace in the state.”[3]

Cyber security has become an increasingly prominent issue, and the Chinese government chosen to focus on several key areas of concern. First, illegal intrusions and attacks in cyberspace that seriously threaten China’s information infrastructure across all significant sectors. Second, increased illicit online activities that harm Chinese society, particularly in the areas of personal information theft and intellectual property misappropriation. Third, the increased use of China’s networks to promote terrorism, extremism, instigation, or subversion of the system, all of which threaten national security and the public interest.[4]
Continue Reading Cyber Security Draft Law Tightens Grip on China’s Network Security

By Justin Lo, Alan Zhang and Alice Leung, King & Wood Mallesons’ Hong Kong Office

The growth in cross-border investment has led to more complex relationships between commercial parties, particularly where foreign elements are involved. Commercial parties are increasingly choosing international arbitration as the means to resolve their disputes.

For parties considering arbitration in the Asia Pacific Region, Hong Kong is an attractive arbitral venue for a number of reasons.

Independent and robust legal system

Hong Kong’s legal system is based on the rule of law, independence of the judiciary and preserves the common law. The World Economic Forum Global Competitiveness Report for 2013 and 2014 ranked Hong Kong number four in terms of judicial independence out of 148 jurisdictions, ahead of the UK, the US, Singapore and many members states of the European Union.

Hong Kong’s legal professionals are fully experienced and capable of providing clients with diversified professional legal advice and related services. Arbitrators in Hong Kong are regarded as independent and highly experienced in dealing with cross border commercial disputes. As such, Hong Kong is seen as a more attractive arbitration hub for domestic and foreign parties to resolve their disputes.
Continue Reading Why should parties consider Hong Kong as an arbitral venue?

作者：Justin Lo  Alan Zhang  Alice Leung 金杜律师事务所香港办公室

跨境投资的增长使商事主体之间的关系更加复杂，特别是在涉及涉外因素时。越来越多的商事主体选择将国际仲裁作为解决纠纷的方法。

对于考虑在亚太地区进行仲裁的当事方，香港以诸多原因成为极具吸引力的仲裁地。

独立稳健的法律体系

香港的法律体系以法治和司法独立为根基，并且保留了普通法。2013年和2014年的《世界经济论坛全球竞争力报告》在司法独立性方面，将香港列为148个司法辖区中的第四名，领先于英国、美国、新加坡及众多欧盟成员国。

香港的法律专业人员经验丰富，能够为客户提供多样化的专业法律意见及相关服务。香港的仲裁员被认为具有独立性，并对处理跨境商事争议具有丰富经验。由此，香港被国内外当事方视为更具吸引力的争议解决仲裁地。
Continue Reading 当事方为何应考虑将香港作为仲裁地？

By Huang Jianwen  King & Wood Mallesons’ Investment Group

huang_jianwenThe Regulations on the Supervision and Administration of Cosmetics (Draft for Review) (the “Draft for Review”) drafted by China Food and Drug Administration (the “CFDA”) was published on 20 July 2015 for public comments. The current regulation governing the supervision and administration of cosmetics in China is referred to as the Regulations Concerning the Supervision of the Hygiene of Cosmetics (the “Current Regulation”). The Draft for Review contains 7 chapters, 79 articles and approximately 13,000 characters compared to the Current Regulation’s 6 chapters, 35 articles and approximately 3,000 characters.

The Current Regulation was promulgated in 1989, and became effective in 1990. It focuses on implementing a supervisory system of government reviews and approvals rather than a purely market-based approach to regulation. The Current Regulation’s supervisory measures may be relatively deficient with respect to striking down regulatory violations.
Continue Reading Highlights of the draft cosmetics supervision regulations

作者：黄建雯 金杜律师事务所投资部

huang_jianwen由国家食品药品监督管理总局（以下简称为“食药监总局”）起草的《化妆品监督管理条例》（修订草案送审稿）（以下简称为“送审稿”）于2015年7月20日起公开向社会征求意见，为期一个月。与现行《化妆品卫生监督条例》（以下简称为“现行条例”）相比，送审稿篇幅大幅扩充，从六章35条3000余字增加至七章79条13000余字。

现行条例于1989年发布，1990年实施。然而现行条例注重事前审批和政府监管，并未充分发挥市场机制作用，且在监管手段上相对匮乏，对违法行为的打击力度不够。此外，国务院进行机构调整后，食品药品监督管理部门已经取代了卫生行政部门对化妆品质量和卫生进行统一监管，与现行条例规定不一致。基于上述几点，食药监总局起草了送审稿，以期建立科学、高效的化妆品监督管理体系。其主要亮点包括：
Continue Reading 《化妆品监督管理条例》（修订草案送审稿）

作者：丁宪杰 金杜律师事务所知识产权部

untitled 01无形资产是一个经营实体所拥有资产的重要组成部分，虽属非物质实体，但对其经营起着增加区别性、提高竞争优势的作用，其组成包括专利和创意设计，著作权和软件，商标，商号，商业外观, 荣誉，专有知识（包括专有技术、客户信息、人力资源等）以及特许资源和特享政策等，提供着盈利来源或保障。其性质也是一种专有权，其主要部分是可通过法律确认和保护的知识产权。

无形资产往往直接或间接地依附在有形资产上，同时具有催化增值功能（即本身不因被使用而产生直接损耗），但其交易便捷、易于复制流失、并依赖于隐形积累的特性，因此需要特别的管理措施加以保护。无形资产管理所涉及的资产要素有专利与工业设计、专有知识（包括商业秘密）、特许资源（包括许可）与特享政策、商标、商号、商业外观、版权、软件、域名等；也涉及资产权利的形成、取得、以及维护各阶段。
Continue Reading 怎样维持健康的知识产权资产——知识产权审计和知识产权尽职调查的要点

By Gao Chunkai Tang Siyu King&Wood Mallesons’ Foreign Investment Group

untitledIntroduction

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 Guo Sun Lee  Hayden Flinn, King & Wood Mallesons’ Hong Kong Office

lee_guosunOn 10 July 2015 the Hong Kong Legislative Council agreed to extend the existing profits tax exemption for offshore funds to PE funds. The new exemptions, set out in the Inland Revenue (Amendment) Bill 2015 (the “Bill”), will come into effect shortly when the Bill is gazetted and will apply to transactions carried out after 1 April 2015.

The amendments, designed to address the concerns of offshore PE funds and promote Hong Kong’s status as an asset management hub, broaden the existing exemption to cover transactions in securities of certain private companies incorporated outside Hong Kong, to remove the requirement to transact through SFO licensed entities for ‘qualifying funds’ and to extend coverage to include special purpose vehicles.
Continue Reading Amended profits tax exemption a welcome change for private equity funds

作者：李帼孙 范凯敦 金杜律师事务所香港办公室

lee_guosunflinn_h2015年7月10日，香港立法会同意把现时适用于离岸基金的利得税豁免延伸至私募基金。新豁免载于《2015年税务（修订）条例（草案）》（草案）中，将于草案刊登宪报后生效，并将适用于2015年4月1日后进行的交易。

为了打消离岸私募股权基金的顾虑，提升香港作为资产管理中心的地位，上述修订草案扩大了现有利得税的豁免范围，将香港境外成立的某些私人公司的证券交易纳入其中，对“适格基金”取消了通过证券及期货条例项下持牌主体进行交易的要求，并将适用范围扩大至特殊目的公司。

私募股权基金在现有豁免框架下面临的障碍

一般来说，根据香港《税务条例》，凡在香港境内开展证券处置业务的，如果该处置行为属于香港境内交易、业务或经营的一部分，一律对由此产生的利润予以征税。这可能导致在港经营的离岸基金须缴纳利得税。
Continue Reading 香港利得税豁免新政惠及私募股权基金

作者：吴青 徐念若 金杜律师事务所公司并购部

吴青2015年6月1日，最高人民法院发布了《最高人民法院关于审理环境侵权责任纠纷案件适用法律若干问题的解释》（以下简称“司法解释”）。该司法解释明确了既适用于环境公益诉讼案件也适用于私益诉讼案件；明确了数人分别或者共同排污时，污染者对内对外的责任承担方式；明确了因第三人的过错污染环境造成损害的，第三人和污染者的诉讼地位和责任承担，并明确了环境侵权责任纠纷案件的归责原则为“无过错原则”。

“无过错原则”的确定使污染者和被侵权人责任界限更加明晰，对统一环境侵权责任纠纷案件的裁判标准、进一步加强环境侵权责任纠纷案件的审理具有重要意义。
Continue Reading 达标排污能否免责？