作者:张保生  陈湘林 金杜律师事务所争议解决

1、外商投资企业股权转让合同成立后,转让方和外商投资企业不履行报批义务,受让方能否请求解除合同并由转让方返还其已支付的转让款、赔偿因未履行报批义务而造成的实际损失?

根据最高人民法院《关于审理外商投资企业纠纷案件若干问题的规定(一)》(法释〔2010〕9号)第五条的规定,外商投资企业股权转让合同成立后,转让方和外商投资企业不履行报批义务,经受让方催告后在合理的期限内仍未履行,受让方请求解除合同并由转让方返还其已支付的转让款、赔偿因未履行报批义务而造成的实际损失的,人民法院应予支持。

 2、外商投资企业的股权转让方和外商投资企业拒不根据人民法院生效判决确定的期限履行报批义务,受让方可否另行起诉,请求解除合同并赔偿损失?
Continue Reading 外商投资企业股权转让问题–跨国公司在华诉讼系列(V)

作者:张保生  陈湘林 金杜律师事务所争议解决

1、根据中国法律,认定合同无效的标准是什么?

根据《合同法》(1999年)第52条,如果合同存在如下五种情形之一,将被认定为无效:(一)一方以欺诈、胁迫的手段订立合同,损害国家利益;(二)恶意串通,损害国家、集体或者第三人利益;(三)以合法形式掩盖非法目的;(四)损害社会公共利益;(五)违反法律、行政法规的强制性规定。

 在司法实践中运用上述规定需要注意:

第一,根据最高人民法院《关于适用〈中华人民共和国合同法〉若干问题的解释(二)》(法释〔2009〕5号)第十四条,“合同法第五十二条第(五)项规定的‘强制性规定’,是指效力性强制性规定。”
Continue Reading 外商投资企业的合同效力和审批中的常见问题解答—-跨国公司在华诉讼系列(IV)

By Zhang Yi, Alan Du and Hu Xia King & Wood Mallesons’ Securities Group Shanghai Office

In the April, 2012, it was reported by various media sources that the National Development Reform Commission (NDRC) had issued certain policies requiring that an RMB fund (the “FIE GP Fund”) with a foreign invested enterprise (FIE) acting as the general partner (the “FIE GP“) and domestic investors (exclusive of FIEs established in China) acting as limited partners be regarded as a foreign investor. Being defined as a foreign investor means that the portfolio investments of such a FIE GP Fund shall be subject to foreign investment approvals, which are read by the public as referring to approvals from the Ministry of Commerce or its local counterparts(MOFCOM).
Continue Reading NDRC Reply on RMB Fund with FIE GP

作者:张毅  杜宏晖  胡夏 金杜律师事务所证券上海办公室 

根据2012年4月多家媒体的报道,国家发展和改革委员会(“发改委”)出台了相关政策,将人民币基金中,普通合伙人(GP)是外商投资企业(“FIE GP”),有限合伙人(LP)是境内投资者(不含在中国境内设立的外商投资企业)的人民币基金(“FIE GP 基金”)认定为外国投资者,这就意味着FIE GP基金进行项目投资时,应完成外商投资审批程序,从外界看来,应该是指取得商务部或地方商务部门(“商务部门”)的审批。

鉴于国际私募股权投资(PE)机构在设计其境内人民币基金架构时通常是采用FIE GP基金的形式,上述消息引起了极大的关注。如果外资PE机构的人民币基金在进行项目投资时都被认定为是境外基金,将来再以FIE GP基金的形式募集新的人民币基金的可能性将大大降低。通过解读发改委对发布的相关文件和其他监管部门披露的信息,笔者认为,对市场上对于上述消息的影响存在一定的误解。

Continue Reading 发改委关于外商投资企业作为普通合伙人的人民币基金的答复

by Liu Xinyu and Jing Yunfeng of King & Wood’s Corporate group

According to Articles 56 to 58(1) of the Customs Law of the People’s Republic of China ("Customs Law")(2), there are three categories where duties may be reduced: statutory duty abatements or exemptions, deductions or exemptions on special goods, and temporary duty reductions or exemptions. "Deductions or exemptions on special goods" refers to goods imported into China that enjoy a reduction or exemption of duties in specified areas and enterprises or for special purposes until the expiration of customs supervision over such goods. Special goods which are subject to reductions or exemptions are divided into many categories according to the region, use of the goods, nature of the trading business and source of funds. According to related regulations, if the imported goods fall within certain product categories encouraged by the government, the foreign investment enterprise can apply for a preferential policy of deduction and/or exemption of duties.

However, in practice, some foreign investment enterprises, being unaware of customs supervision rules, receive penalties from China Customs offices for improper handling of these special goods that are otherwise eligible for reductions or exemptions of duties. Therefore, it is important for foreign investment enterprises to understand the relevant regulations concerning special goods that are eligible for deductions and exemptions.

Continue Reading Common Mistakes Made by Foreign Investment Enterprises Utilizing Duty-Exempt Goods

作者:刘新宇 景云峰 金杜律师事务所公司

根据《中华人民共和国海关法》(《海关法》)(1)第五十六条(2)、五十七条第一款(3)以及第五十八条(4)的规定,关税的减免分为三大类,即法定减免税、特定减免税和临时减免税。其中,“特定减免税货物”是指货物在进口时减征或免征进口关税,进口后只能用于特定地区、特定企业或者特定用途,直至海关监管年限届满后解除海关监管的进口货物。而特定减免税货物又根据地区、货物用途、贸易性质、企业性质和资金来源等税收政策可分为很多种类。其中,根据有关政策规定,外商投资企业进口属于国家鼓励发展的外商投资项目货物时,可申请享受特定减免税优惠政策。

但是,实践中,很多外商投资企业却因对海关监管要求的不了解而违法处置特定减免税货物导致遭受海关的处罚。因此,对于外商投资企业而言,了解特定减免税货物监管的相关规定以及海关在实践中的要求是非常重要的。

Continue Reading 外商投资企业特定减免税货物”移作他用”典型案例

By Mark Schaub, Feng Xin, Duncan Hwang   King & Wood’s Foreign Direct Investment Practice

A. General Devolution to Lower Levels

China’s Ministry of Commerce (MOFCOM) has continued their trend of further delegating approval competency to lower governmental levels. This delegation of approval competency to local authorities will greatly accelerate the approval process for foreign

Huang Caihua, Associate, Foreign Direct Investment

Recently, the Chinese government issued a couple of new laws and regulations to curb overseas “hot” money and strengthen the administration of foreign exchange. On August 5, 2008, the State Council amended and promulgated the Regulations on Foreign Exchange Administration of the People’s Republic of China which requires that foreign exchange and the fund for settlement in a capital account should be used as approved by relevant approval authorities. On August 29, 2008, the Circular of Relevant Implementation Questions Concerning the Improvement of Administration of Payment and Settlement of Foreign Exchange Capital of Foreign Invested Enterprises (the “Circular”) was then issued by the State Administration of Foreign Exchange (“SAFE”), according to which the RMB settled from the capital account of a foreign invested enterprise (“FIE”) should be used in accordance with the business scope approved by the governmental agencies and may not be used to make equity investments in China. This means foreign investors cannot directly make use of the foreign exchange in their capital account to invest in China, which is expected to have a major impact on domestic re-investment by FIEs.
Continue Reading Foreign Exchange Capital: Restrictions on Domestic Investment