In 1990, when the Cold War came to an end, the German rock band The Scorpions sang “The world is closing in, did you ever think, that we could be so close, like brothers?” echoing the spirit of globalization in their rock ballad “Wind of Change”. Europe has since then been a place proud of its openness to foreign investment.
Continue Reading Winds of change in foreign direct investment control in Europe and the Middle East (1)-Introduction
KWM releases “Law and Practice in the Greater Bay Area Ⅱ” (Chinese)
On 18 February 2019, the long-awaited Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (the “Outline”) was finally released as an outline document guiding the current and future cooperation and development of the Greater Bay Area (the “GBA”). The Outline provides a direction for the future development of the GBA and a new model for China’s economic growth. The sheer scale and development ambition of the GBA as set out in the Outline will bring boundless opportunities to local and international business.
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King & Wood Mallesons partner Tim Taylor QC named one of Who’s Who Legal Thought Leaders: Global Elite 2019
By：King and Wood Mallesons
Tim Taylor QC, Managing Partner at King & Wood Mallesons Dubai office, has been ranked as one of Who’s Who Legal Thought Leaders: Global Elite 2019. Tim is one of only 200 lawyers peer-nominated globally to appear in the guide, which brings together the insight, expertise and wisdom of some of the world’s foremost lawyers and experts.
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New economic sanctions issued June 24,2019
By Meg Utterback, Aaron Wolfson
Multinational companies need to know about new sanctions on Iran that may affect their business. On June 24, 2019, U.S. President Donald Trump issued an Executive Order (“EO”) imposing sanctions on senior members of the Iranian government. The Executive Order requires that all property and interests in property, of several categories of persons, that are in the United States or come into the possession or control of U.S. persons must be blocked and reported to the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury.
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Crossing Borders 10 （Chinese/English）
In the last decade (2008 – 2018), investor-state dispute settlement (ISDS) is quite controversial. On the commercial side, however, the mechanism has seen some positive developments in terms of growth, diversity and transparency. Reform within investment arbitration is moving at a faster pace than ever before. Thus, the future is bright for arbitration.
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Development of PRC Regulations on Cross-border Data Transfer
By：Susan Ning,Wu Han,Li Yuanshan, Dan Xuezi
1. Background
Early on the morning of June 13, 2019, Cyberspace Administration of China (“CAC”) issued the Measures for Security Assessment for Cross-border Transfer of Personal Information (Draft for Comment) (the “Draft Measures”). The Draft Measures makes significant adjustments to the Measures for Security Assessment for Cross-border Transfer of Personal Information and Important Data (Draft for Comment) released on April 11, 2017.Continue Reading Development of PRC Regulations on Cross-border Data Transfer
Protection on Fair Play – Comments on Laws of the Game 2019/20
By：Mark Schaub/Ren Xiaolei/David Hong
The Laws of the Game are the rules that must be followed in all levels of football matches. The first widely applicable Laws of the Game were drawn up in 1863. The International Football Association Board (IFAB), founded in 1886, was recognized by the International Football Federation in 1904 as the responsible body for formulating and promulgating the Laws of the Game. The Laws of the Game have been revised many times, and the 2016/17 revision of the Laws of the Game started the most far-reaching and comprehensive period of Law adjustment in the history of the IFAB. In March 2018, IFAB approved the most important change of Laws in the history of football – the use of video assistant referees.
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Era of Infant Formula Registration- Situation, Pitfalls and Solutions
By：Chen Bing, Dai Enchao, Gui Siyu
It has been years but many people might still recall the melamine scandal. As part of the efforts to rebuild the food safety system, infant formula registration was firstly introduced in the Food Safety Law (2015). This registration mechanism aims to enhance the safety of the formula industry by setting higher thresholds for infant formula manufacturers, and kicking out those lack sufficient capabilities in safety control and technologies.
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KWM advises Portugal on its inaugural issuance of RMB 2 billion Panda Bonds in China
By：King & Wood Mallesons
In June 2019, the Republic of Portugal issued RMB 2 billion panda bonds in China with a tenor of three years. The bonds were actively subscribed by onshore investors as well as offshore investors through the Bond Connect. The final coupon rate was 4.09%.Continue Reading KWM advises Portugal on its inaugural issuance of RMB 2 billion Panda Bonds in China
Autonomous vehicles: Legal issues on Survey, Data Collection and Transfer
By： Mark Schaub, Xue Han and Atticus Zhao
Autonomous vehicles on roads seems inevitable. However, a number of major breakthroughs will need to take place before fully autonomous vehicles will be driving in the streets. A key breakthrough will be the capability of the vehicle to be fully aware of the ever changing surrounding environment and being able to make decisions correspondingly on a virtually real-time basis.Continue Reading Autonomous vehicles: Legal issues on Survey, Data Collection and Transfer