By Mark Schaub and Atticus Zhao King&Wood Mallesons’ Corporate & Securities group

In our modern, interconnected world hacking is an ever present danger. Hackers can break into systems to steal information, bank details, bring down targeted websites, access government websites and a variety of other fiendish acts.

Imagine though, if instead of targeting desktop computers, websites or even mobile phones … that such hackers could target cars.  We have tragically seen how cars can be used as weapons by terrorists.
Continue Reading Cybersecurity: Achilles’ Heel for Self-driving Cars?

作者:尤杨 黄思哲 金杜律师事务所争议解决

公证债权文书执行制度与诉讼、仲裁程序相比,具有免除当事人的诉累、节约权利实现成本的优点,但由于有关立法不完善,适用范围有限且司法实践中的反映不一,因此在实践中没有广泛被采用。近年来,民间借贷和非银行融资(例如通过信托方式融资)活动逐渐增多,越来越多的当事人看到了公证债权文书执行制度简便、快速的优势,选择具有强制执行力的公证债权文书作为实现债权主要方式的情况已经比较普遍。通常情况下,无论是普通的借贷还是各种方式的信托融资,都会要求债务人或关联方为债权提供担保,如果主合同办理了强制执行公证,担保合同往往也与主合同一起办理强制执行公证,以期争议发生时能马上执行担保财产。那么,担保合同是否也能依法通过公证被赋予强制执行效力呢?
Continue Reading 信托实务专题之(二):通过公证赋予担保合同强制执行效力问题探析

By Susan Ning, Liu Jia and Angie Ng

It’s been slightly over a month since the enactment of a national security review (NSR) process for foreign acquisitions of domestic businesses.  Thus far, it is not clear how many (if any at all) foreign-local deals have undergone the NSR process,  Pursuant to the rules and regulations1  which govern the NSR process, there is no obligation on the part of the Chinese government to publish any determinations (whether deals are approved or not) in relation to deals which undergo the NSR process.Continue Reading Local commerce administrative agencies and the national security review process

By Susan Ning, Yin Ranran, Huang Jing

There have been concerns about Chinese government’s foreign investment policy ever since the State Council announced the formal establishment of the national security review ("NSR") regime in China.  At a press conference of the Fourth Session of the 11th National People’s Congress held on March 7, 2011, China’s Minister of Commerce Chen Deming reiterated that China’s "opening-up" policy will remain unchanged.  According to Chen, whereas China is in the process of further opening up to the world, introducing the NSR regime ensures that national security concerns will be addressed in a transparent manner and it is in line with international practice. 

The NSR regime is not particular to China.  The United States first instituted the NSR process in the 1980s.  Other jurisdictions, such as Australia, Germany, Canada, also have similar processes (see our article entitled More on China’s national security review regime – the American regime vs the Chinese regime).  Through our research, we find that during the past few years, the following contemplated outbound investments by Chinese companies underwent the NSR process:Continue Reading List of Outbound Investments by Chinese Companies Scrutinized for National Security Concerns

By Susan Ning, Angie Ng and Shan Lining

On 3 February 2011, China’s State Council released a notice which governs a national security review process for foreign acquisitions of domestic companies1.   This national security review process will be implemented on 5 March 2011.

Since the release of the notice, there has been a flurry of articles and commentaries in both the legal and business media circuit.  Foreign businesses who wish to invest in China are concerned that this is potentially another tedious clearance process (on top of the corporate, regulatory and antitrust clearance processes) to pass before they are free to close their proposed transactions.Continue Reading More on China’s national security review regime – the American regime vs the Chinese regime

By: Yi Zhang,  King & Wood’s  Securities & Capital Markets Group 

Introduction

Legislative research on industrial investment funds started in early 2000. Since the official administrative regulations regarding such funds have not yet been publicly released, the government has been concurrently implementing pilot projects and draft administrative regulations on the subject.

During the pilot period, the National Development and Reform Commission (NDRC) drafted the Administrative Regulations on Industrial Investment Funds, later changing the name to the Administrative Regulations on Private Equity Funds in order to make them applicable to the entire private equity fund industry.

Continue Reading Establishing renminbi private equity funds

By Li Jinnan, Partner, King & Wood’s Banking & Finance Group

In order to support outbound investment projects of domestic PRC entities, to meet the policy demands of domestic credit support, and to further facilitate trading and investing, the State Administration of Foreign Exchange ("SAFE") on July 30th, 2010 promulgated the Notice on the Administration of Overseas Security by Domestic Entities (the "Notice"), which came into effect as of the date of promulgation. This Notice relaxes the restrictions on financing of outbound projects.Continue Reading New SAFE Regulations Support Financing of Outbound Deals