By Wang Junfeng, Partner, and Edward Jing, Partner, King & Wood’s Securities & Capital Markets Group
2008 is destined to be an extraordinary year for global cross-border M&A. King & Wood, as a leading law firm deeply rooted in this activity in China, has noticed the following trends in the second half of 2007 and the first half of 2008…
Continue Reading New Trends of Global Cross-Border M&A and Strategic Investment Wave
As of August 1st, Hong Kong and The Mainland were able to recognize and enforce commercial contracts, in accordance with the “Jurisdiction Agreement” stated in “Arrangement between the Mainland of China and the Hong Kong Special Administrative Region Courts for Mutual Recognition and Implementation of Judgment on Civil-Commercial Cases under Agreement Jurisdiction."
By Xu Xiaodan, King & Wood’s International Litigation & Arbitration Group
作者：汪蕊，合伙人 ，金杜律师事务所，奥运工作团队
作为取得奥运会市场开发权益的对价，各相关类别的赞助商向奥运会提供了金额可观的资金和实物投入。每一届奥运会的成功举办都离不开赞助商的大力支持。因此，国际奥委会将赞助商的权益保护视为奥运会筹备组织工作的重要环节。而北京市政府和北京奥组委也在《主办城市合同》及《市场开发计划》中做出了庄严的承诺，将采取一切必要措施防止和打击任何形式的隐性市场行为。
By Wang Rui, Partner, King & Wood’s Olympic Group
As consideration for obtaining Olympic marketing rights, the official sponsors have contributed considerable funds and goods to the Olympic Games. The strong support of sponsors is crucial to the successful staging of every edition of the Olympic Games. As such, the International Olympic Committee (“IOC”) views the protection of the sponsors’ rights as an important aspect in the preparation and organization of the Olympic Games. The Government of the Beijing Municipality and Beijing Organizing Committee for the Games of the XXIX Olympiad (“BOCOG”) also solemnly have covenanted in the Host City Contract and the Marketing Plan that they will take all necessary measures to prevent and combat ambush marketing in any form…
Continue Reading Anti-ambush Marketing Measures for the Beijing 2008 Olympic Games
作者： 李咏梅 诉讼仲裁组 国内诉讼部
近年来，“中国制造”频频被曝存在质量问题。从水产养殖产品到牙膏，从沙滩车到汽车轮胎，从玩具到手机……中国出口产品在国际市场引发“信任危机”。同时，国内 “手机爆炸”到 “欣弗”等产品缺陷致人死亡事件，也频频牵动人们的神经，产品安全问题一再凸现在国人面前。
By： Li Yongmei King & Wood’s Domestic Litigation & Arbitration Practice
Recent issues regarding Chinese products have focused on the gaps remaining in the law. However, the gaps are quickly closing. Product safety has become a top priority for China. Chinese authorities have streamlined the legislative process for product recalls at all levels…
Continue Reading Chinese Law on Product Recalls- A Work in Progress
作者 李文博 国际贸易部
2008年6月11日，金杜荣幸的邀请到美国并购领域著名律师事务所Wachtell, Lipton, Rosen and Katz的创始合伙人Martin Lipton先生前来交流访问。Lipton先生在金杜就法律从业以及毒丸计划的影响两个话题做了演讲。Lipton先生在法律实务领域成就卓越，最体现其智慧和创造力的无疑要数“权利计划”，即目标公司董事会采取的一系列反收购措施，用于抵御股权收购者低估目标公司价值的收购计划。由于此后华尔街银行家们的敌意收购计划由于“权利计划”屡屡受挫，因此他们称“权利计划”为“毒丸计划”。
By: Li Wenbo King & Wood’s International Trade Group
Last month, Mr. Martin Lipton, of Wachtell, Lipton, Rosen & Katz, honored King & Wood with a speech on the implications of the “poison pill” in legal practice. Mr. Lipton is noted for hisinnovative "rights plan", a series of defensive measures taken by the board of a target company in a hostile takeover. The “rights plan” is meant to ward off hostile offers that substantially underestimate the value of the target’s shares. The rights plan was later referred to as the "poison pill" by Wall Street bankers whose attempts at hostile takeover below fair value were frequently frustrated by the "rights plan."
Mr. Lipton’s speech inspired me to ponder the question of how defensive measures work in China’s corporate governance. I then googled the word "poison pill" and "company" in Chinese, but found no instances of companies utilizing the poison pill within China. So why is there no poison pill in China?
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