By Dai Yue and Li Tianren King & Wood Mallesons’ Dispute Resolution group

On 30th June 2017, the Intermediate People’s Court of Wuhan, Hubei Province (‘’Wuhan Intermediate Court’’) handed down its judgment in Application to Recognize and Enforce a Foreign Civil Judgment by Liu Li v. Tao Li and Tong Wu” (2015 E Wuhan Zhong Min Shang Wai Chu Zi No. 00026) (“Judgment”) in which the Court considered the recognition and enforceability of a foreign judgment in China. For the first time, the Court, on the basis of acknowledging juridical reciprocity between China and the US, ruled that a US civil court ruling was to be recognized as legally binding on Chinese soil.
Continue Reading Recognition and Enforcement of Foreign Judgments in China: Progress and Challenges Go Hand-in-hand

By Yu Feng, Zhou Steven, Stephen Du King & Wood Mallesons’ Dispute Resolution group

On 21st July 2017, the Wuhan Maritime Court issued a maritime injunction ordering a foreign ship owner to apply to withdraw an anti-suit injunction of the Hong Kong High Court against a Chinese insurer. This is the first case to reveal the Chinese court’s attitude towards the anti-suit injunctions of “foreign” courts.
Continue Reading Maritime injunctions – a weapon against anti-suit injunctions?

By LIU, Haitao (Harry), LI, Ronghui (Sam), YU, Linda and XIA, Ying

One day before noon, a colleague came up and asked: “What’s that English term in corporate investigations, the one for obscuring sensitive information in documents?” And suddenly she got it: “Ah, I remember, it’s ‘Redaction’.” Then, she went back to her drafting… Redaction, a document editing method frequently used by legal counsel in compliance and dispute resolution matters, refers to a process of obscuring or removing sensitive information that is not allowed to be disclosed to the other party.
Continue Reading What Should Lawyers Redact in Corporate Internal Investigations?

By Liu Xinyu Feng Xiaopeng King & Wood Mallesons’ Customs& Trade Compliance team

According to the China Cross-Border E-Commerce Development Almanac (2017), in 2016, the total volume of cross-border export and import online retail reached RMB 54.343 billion. This figure represents an increase of 42.44% on a year-on-year basis. The total import tax in 2017 reached RMB 2.62 billion, increased by 545.11% when compared to 2016. Cross-border e-commerce has grown increasingly popular in recent years as a distinct model from traditional modes of business operation. As a result of this, administrative oversight on cross-border e-commerce (including finance, commerce, customs, customs inspection, foreign exchange, tax, etc.) is also undergoing a process of change. In this process, there has emerged much controversy over the legal nature of and liability related to cross-border e-commerce.
Continue Reading Legal Risks Confronting Cross-Border E-Commerce

By Song Ruiqiu and Lou Xiaohan King & Wood Mallesons’ Finance & Capital Markets group.

Middle Huaihai Road in Shanghai is home to a stately piece of architecture a well-known foreign owned Shanghai Redleaf International Women & Children’s Hospital (“Redleaf”). Incorporated on 9 December 2011, Redleaf had been operating from Middle Huaihai Road for over four years. As a hospital with high-end positioning, excellent medical staff, luxurious facilities, and quality services, Redleaf had attracted clients from all over the world. However, on 31 August 2017, Redleaf made a sudden announcement that it would be relocating its services to a different location at the request of the government.[1] The move that followed, happened almost overnight and, no doubt, brought with it significant consequences for the hospital, and its staff and patients.
Continue Reading Establishing Medical Facilities in China: Redleaf Case Study

By King & Wood Mallesons

Acting as PRC and international counsel, King & Wood Mallesons (KWM) advised Bank of Zhengzhou Co., Ltd. (Bank of Zhengzhou, Stock Code: 6196) on its issuance of US$1.191billion 5.50% non-cumulative perpetual offshore preference shares on 18 October 2017. Such preference shares are Bank of Zhengzhou’s additional tier 1 (AT1) capital, and listed on the Hong Kong Stock Exchange.
Continue Reading King & Wood Mallesons advises Bank of Zhengzhou on its issuance of US$1.191 billion offshore preference shares

By Guan Feng and Tang Lu King & Wood Mallesons’ Dispute Resolution group

Recently, represented by Ken Wu, Chinese Ambassador to the Netherlands, China officially signed the Hague Convention of 30 June 2005 on Choice of Court Agreements (“the Convention”). The Convention is an international treaty that legally binds Contracting Parties to a uniform set of rules relating to civil and commercial matters. It currently has 33 Contracting Parties, mostly EU member states (excluding Denmark). Ukraine, the U.S. and China have not yet ratified the Convention under domestic law. We are still waiting for China to announce whether it has reservations about any of the provisions.
Continue Reading The Choice of Court Agreement and Its Implications on China

By Huang Jianwen King & Wood Mallesons’ Commercial & Regulatory group

On October 10 2017, the China Food and Drug Administration (“CFDA”) issued the Decisions Concerning the Adjustment of Imported Drug Registration (No. 35 Order by CFDA,Decisions). This implements the policy of encouraging new drug marketing following the earlier issuances of Opinions on Deepening the Reform of Evaluation and Approval System and Encouraging the Innovation of Drugs and Medical Devices by the General Office of the CPC Central Committee and the General Office of the State Council on October 8. 
Continue Reading The reform of imported drugs registration encourages the marketing of new drugs in China

By Scott Heezen  King & Wood Mallesons’ Sydney office.

A number of tax concessions are available for Australian investment vehicles that qualify as managed investment trusts (MITs) for tax purposes. These concessions are designed to encourage investment into Australia, particularly Australian real estate, by both resident and non-resident investors.

A trust must satisfy a number of requirements in order for it to qualify as a MIT and access these concessions (download Investing Down Under: A Guide for Global Real Estate Investors in English or Chinese for a list of requirements). 
Continue Reading Tax concessions for Managed Investment Trusts in AU

By Greg Stonefield King & Wood Mallesons’ London office

The European Commission has taken steps to address foreign investments in the EU. While the Commission are proposing a regulation establishing an EU framework to screen foreign direct investments, they will at the same time immediately proceed with the following measures: