On January 3, 2020, the China Banking and Insurance Regulatory Commission (the “CBIRC”) published the Guiding Opinions on Promoting the High-Quality Development of the Banking and Insurance Industries (《关于推动银行业和保险业高质量发展的指导意见》) (with the issuance date contained therein, December 30, 2019, the “Guiding Opinions”).
Continue Reading Foreign Institutions’ Participation in the Wealth Management Business Encouraged by the CBIRC in Various Aspects
Implementing Regulation for Foreign Investment Law heralding a New Era of Foreign Investment Regime in China
On December 31, 2019, the State Council of China published the Implementing Regulation for the Foreign Investment Law of the PRC (the “FIL Implementing Regulation”).
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King & Wood Mallesons advises Amundi on obtaining the CBIRC approval for establishing the first foreign-investor controlled asset management joint-venture
On December 20th, Amundi, European’s largest asset management company, and BOC Wealth Management, the subsidiary of Bank of China, have received the approval from China Banking and Insurance Regulatory Commission (“CBIRC”) to establish the first asset management joint-venture (“Asset Management JV”).
Continue Reading King & Wood Mallesons advises Amundi on obtaining the CBIRC approval for establishing the first foreign-investor controlled asset management joint-venture
KWM releases Special Issue for the New Drug Administration Law(Chinese)
On August 26, 2019, the newly revised Drug Administration Law (“New Law”) was officially issued.
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Doing Business in South Korea 2019 CN Version Released
Since its joining the OECD in 1996, South Korea has developed in a rather rapid pace among all the emerging economies. The government of South Korea encourages local enterprises to capitalize on foreign investment and issues a series of favorable policies and measures.
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The IP Tribunal of Supreme People’s Court of China finds direct infringement for the manufacturer of products implementing the patented method in the fields of network and communication
By Jing Xu, Chao Zhang King & Wood Mallesons’ Intellectual Property Group
On December 10, 2019, the IP Tribunal of Supreme People’s Court of China (“the Court”) announced the final judgement for the appellate case with respect to patent infringement dispute between the appellant Company A and the appellee Company B.
Continue Reading The IP Tribunal of Supreme People’s Court of China finds direct infringement for the manufacturer of products implementing the patented method in the fields of network and communication
Mutual Fund Investment Consulting Business Comes
At the end of October, 2019, the Department of Fund and Intermediary Supervision of the China Securities Regulatory Commission (“CSRC”) promulgated the Notice on the Pilot Implementation of the Public Offered Mutual Fund Investment Consulting Business (《关于做好公开募集证券投资基金投资顾问业务试点工作的通知》, the “Notice”) and the mutual fund investment consulting business (“MF Consulting Business”) is officially put into pilot implementation.
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China signals further opening of performing arts market – with strings attached
The Ministry of Culture and Tourism (the “Ministry”) has recently issued a draft announcement open for public comments entitled the “Notice of the Ministry of Culture and Tourism on Further Strengthening the Management of the Performance Market” (the “Notice”) on their website.
Continue Reading China signals further opening of performing arts market – with strings attached
CHINA’S REGULATING OF INTERNET AND EDUCATION
A new report by UBS Securities forecasts that China’s online education market will continue to massively grow from the already sizeable RMB 30 billion annual spend in 2018.
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China Tightens Regulation for Online Education
The past five years witnessed a boom in the online education sector in China with annual revenues increasing from RMB 122.54 billion in 2015 to RMB 269.26 billion (forecast) in 2019[1].
Continue Reading China Tightens Regulation for Online Education