On 7 November 2020, Sichuan Bank (SCB) was officially opened for business. The establishment of SCB is an important move taken by Sichuan to implement the decisions and deployments of the CPC Central Committee and the State Council on financial work and to promote structural reform in the financial supply side.

SCB was established in

On 2 November 2020, GDS Holdings Limited (“GDS”) was listed on the Main Board of the Stock Exchange of Hong Kong with the stock code 9698-SW. GDS issued a total of 160,000,000 Class A ordinary shares (subject to over-allotment) at a price of HK$ 80.88 each through international and Hong Kong public offerings. It is expected to raise HK$12.9408 billion (subject to over-allotment) through this global offering.
Continue Reading King & Wood Mallesons advises GDS on its Hong Kong listing

King & Wood Mallesons (KWM) remains at the forefront in corporate restructuring & insolvency and onshore and offshore debt issuance, having recently advised on three offshore liability management transactions. These transactions involved cash tender and exchange offer of New York law governed high-yield notes.
Continue Reading KWM Hong Kong maintains robust track record in offshore liability management transactions

On September 24, 2020, the China Banking and Insurance Regulatory Commission (“CBIRC”) approved the opening of Amundi BOC Wealth Management Co. Ltd. (hereinafter referred to as “Amundi BOC Wealth Management”). Amundi BOC Wealth Management is the first foreign-controlled wealth management company established in China and approved to open by CBIRC..  According to the approval of CBIRC, Amundi BOC Wealth Management has a registered capital of RMB 1 billion and its registered place is Shanghai Lingang Free Trade Zone. It mainly engages in the issuance of publicly offered wealth management products, the issuance of privately offered wealth management products, wealth management advisor, consulting and other asset management related businesses.
Continue Reading King & Wood Mallesons advises Amundi BOC Wealth Management on obtaining the CBIRC approval for opening the first foreign-investor controlled wealth management joint-venture