By Susan Ning, Han Wu, Yangdi Zhao   King & Wood Mallesons’ Commercial & Regulatory group.

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China’s national legislature on March 15, 2017 passed the General Provisions of the Civil Law (the “General Provisions”), the opening chapter of a civil code planned to be enacted in 2020.  The General Provisions were adopted at the closing meeting of the annual session of the National People’s Congress (NPC), with 2,782 of the 2,838 deputies present voting in favor.  It takes effect on Oct 1, 2017.

Article 111 of the General Provisions[1] stipulates the rules for the protection of personal data, which is believed to be one of the highlights of the General Provisions.  The protection of personal data was first included in Article 109 of the Second Draft of the General Provisions of the Civil Law (the “Second Draft”)[2] on October 31, 2016, aiming to curb the prevalent illegal collection, processing and trading of personal data in the Internet era.  Article 109 of the Second Draft provides that “[T]he personal data of individuals is protected by law.  Entities and individuals are prohibited from collecting, utilizing, processing, transmitting personal data illegally or supplying, making public or selling personal data illegally.” Continue Reading China’s Step Forward to Personal Data Protection

作者：金杜律师事务所

2017年3月20日，广东粤财投资控股有限公司（以下简称“粤财控股”）、广东明阳风电产业集团有限公司（以下简称“明阳风电”）和中国铁路通信信号股份有限公司（以下简称“中国通号”）在广州召开广东粤财金融租赁股份有限公司（以下简称“粤财金租”）创立大会。粤财控股、明阳风电和中国通号在金杜律师事务所的协助下，成功获得中国银监会批复（银监复[2016]449号），同意其在南沙自贸区筹建粤财金租，注册资本10亿元人民币。至此，粤财金租成为广东四家金融租赁公司之一。 Continue Reading 金杜助力粤财金租成功获批在南沙自贸区筹建

By Chen Yun, Wang Rong, Liang Yixuan King & Wood Malleosns’ Finance & Capital Markets grop

chen_yunOn March 10, 2017, the General Office of the China Banking Regulatory Commission (“CBRC“) promulgated the Circular on Carrying on Certain Businesses by Foreign Invested Banks (Yin Jian Ban Fa [2017] No.12, the “Circular“), clarifying certain business areas foreign invested banks may be allowed to engage in.  In the previous regulatory regime, it is unclear whether foreign invested banks may undertake businesses in such areas.  This Circular is intended to encourage foreign invested banks to explore the advantages of their global service networks and to provide comprehensive financial services to those Chinese enterprises in their endeavors to expand their businesses globally. Continue Reading Foreign Invested Banks: Opportunity or Challenge?

作者：陈运 汪镕 梁宜萱 金杜律师事务所金融资本部

陈运2017年3月10日，中国银行业监督管理委员会（“银监会”）办公厅发布了《关于外资银行开展部分业务有关事项的通知》（银监办发[2017]12号，简称“《通知》”），该《通知》对于此前未能明确规定的在华外资银行是否可以开展的一些业务作出了明确的规定。《通知》旨在促进外资银行利用自身全球化综合服务优势，为“走出去”的中资企业提供综合金融服务。

主要亮点

 1.承销业务

《通知》明确，外资法人银行可依法开展国债承销业务，在银监会层面没有行政许可要求，仅需按照经营业务范围内的新产品的监管要求，向银监会进行事后报告。 Continue Reading 在华外资银行的机遇来了吗？

By King & Wood Mallesons

King & Wood Mallesons (KWM) has advised  Xinhu (BVI) Holding Company Limited as its US and PRC counsel on its US$700 million 6.00% guaranteed senior notes issuance due 2020, which is guaranteed by Xinhu Zhongbao Co., Ltd (Xinhu Zhongbao). The transaction marks the largest initial issuance of a high yield bond by a PRC company since January 2013, according to the Bloomberg database. Continue Reading King & Wood Mallesons advises Xinhu Zhongbao on China’s first and largest high yield bond issuance since January 2013

作者：金杜律师事务所

金杜律师事务所担任新湖（BVI）控股有限公司的美国法和中国法顾问，协助其发行7亿美元担保优先债券。此次发行的债券由新湖中宝股份有限公司（“新湖中宝”）担保，将于2020年到期，票面利率6.00%。据彭博社数据显示，该笔交易创下2013年1月以来中国公司首次发行的最大规模高收益债券纪录。 Continue Reading 金杜助力新湖中宝完成2013年1月以来中国最大规模的高收益债券首次发行

By King & Wood Mallesons

On March 20th, 2017, Xu Ping, partner at King & Wood Mallesons (KWM), was named one of the Top 10 M&A Lawyers in China for 2017 by Asian Legal Business (ALB) for her exceptional work in cross-border M&A transactions and the high praise and recognition she received from her clients. The list was compiled on the basis of various factors, including the significance of the M&A deals such candidate has advised on (as lead counsel) in the past 12 months, the representative and influential clients for whom such candidate represented, and the accolades and recognitions such candidate has received from the market, etc. Continue Reading Xu Ping, partner at King & Wood Mallesons, nominated as the Top 10 M&A Lawyers in China for 2017

作者：金杜律师事务所

2017年3月20日，金杜合伙人徐萍律师以在并购领域杰出的执业表现和广泛的客户赞誉跻身《亚洲法律杂志》(ALB)最新发布的2017年度“中国十佳并购律师”。ALB通过综合调研过去一年市场重大交易、具有代表性和影响力的客户以及获得重大奖项和领先排名等荣誉的执业律师，最终选定表现卓越的十位并购律师。 Continue Reading 金杜徐萍律师当选《亚洲法律杂志》2017年“中国十佳并购律师”

作者：金杜律师事务所

2017年3月17日，在金杜律师事务所协助下，香港联交所上市公司中国恒大集团（简称“中国恒大”，股票代码：3333）作为发行人，在境外成功发行本次3年期及5年期两笔美元债券，合计募集资金达15亿美元。

此次中国恒大的海外发债项目是国际债券市场上的一次标杆性项目，创造亚洲房地产企业高收益债券市场有史以来最大规模的美元债券发行记录。本次发行获得众多诸如贝莱（Blackrock）、富达（Fidelity）、威灵顿（Wellington）、安联（Allianz）、野村（Nomura）等国际知名投资机构的关注和参与，实现近5倍的超额认购，体现了国际市场对中国恒大信用和优良业绩的高度认可。中国恒大自2006年以来，已累计发行境外债规模超百亿美元。 Continue Reading 金杜助力中国恒大创亚洲房地产高收益债券市场最大规模美元债券发行

作者：张保生 何春艳  朱媛媛 金杜律师事务所争议解决部

zhang_baosheng新疆某上市公司（下称“公司”）因信息披露违规被中国证监会行政处罚，引发众多股民对公司提起证券虚假陈述民事赔偿诉讼（下称“本案”），金杜代理公司应诉。近期，新疆某中级法院就本案作出一审判决，驳回股民全部诉讼请求。

本案系典型的证券虚假陈述民事赔偿诉讼。该类案件因涉及股民众多、索赔金额高、专业性强，往往引发资本市场高度关注。从以往的案例来看，上市公司被行政处罚后引发的股民诉讼，法院判决驳回原告全部诉讼请求的案例极为罕见。本案中，金杜基于以往处理类似案件的丰富经验和专业把握，针对本案的案情特点，有针对性地提出了上市公司不应承担股民损失的答辩意见，最终得到法院支持。这是金杜代理上市公司成功应对股民提起证券虚假陈述民事赔偿诉讼的又一经典案例。 Continue Reading 经典案例丨上市公司因虚假陈述被处罚并不必然赔偿股民损失——金杜代理新疆某上市公司一审胜诉