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Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Several Questions regarding ICP/EDI

August 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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Author: Jack KOO, Partner of V&T Law Firm, Email: j.will.koo@vtlaw.cn

Dear reader,

Many people in practice are sort of confused about the definitions of ICP and EDI, and have some un-answered queries about related issues. We hereby submit this Memo regarding our detailed answers or analysis on the captioned for your reference.

The Legal and Commercial Issues in terms of Cross-Border M&A Transactions in PRC

August 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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  Author: Su Yuqiang  Partner  Suyuqiang@vtlaw.cn 

1. The Legal Due Diligence Conducted by Acquirer 

In a cross-border M&A transaction, the legal due diligence conducted by experienced attorneys for Acquirer towards Target Company is essential. It is a way for Acquirer to take a full look of Target Company and detect minor defects or risks beneath the surface of Target Company. To conduct legal due diligence requires the capabilities to sense the legal and commercial defects or risks of Target Company from attorneys. 

The prospectus and participants’ assumption of liability

July 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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Author: Xue Lian, Partner at V&T Law Firm.  Tel:+86 10 8225 5588   Email: xuelian@vtlaw.cn    

With the anticipated launch of the Science and Tech-nology Innovation Board (STIB), the Shanghai Stock Exchange has stated that prospectuses are among the most important documents for information disclosure, but the quality of existing prospectuses varies greatly.According to the Shanghai Stock Exchange, existing pro-spectuses fall short of the standard in five areas: (1) disclosure of science and technology innovation; (2) disclosure of business model; (3) risk disclosure; (4) wording; and (5) format. Admittedly, these issues are related to the fast progress of the STIB and the relevant parties’ mindset of trying to gain ground in this area. 

China Passes New Foreign Investment Law

April 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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April 15, 2019

Foreign investment; cross-border transactions

China Passes New Foreign Investment Law

April 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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China Passes New Foreign Investment Law

April 15, 2019

Foreign investment; cross-border transactions

China’s New Draft Foreign Investment Law

March 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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The State Council presents a near-final draft to the National People’s Congress

January 11, 2019

Foreign investment; cross-border transactions

Update - Client Alert SHSE Sci-Tech Innovation Board (2019.3.8)

March 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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 Update — China’s Version of NASDAQ ?

Shanghai Stock Exchange to create Sci-Tech Innovation Board

March 8, 2019

Capital markets; foreign investment

On March 1, 2019, the China Securities Regulatory Commission (CSRC) and Shanghai Stock Exchange (SSE) released the final version of the Sci-Tech Innovation Board Rules (STI Board Rules) that were published in draft form on January 30, 2019.[1] The Chinese authorities rarely finalize draft regulations this quickly. It appears that the Chinese government wishes to enable the SSE’s Sci-Tech Innovation Board (STI Board) to better compete with the Hong Kong Stock Exchange, NASDAQ, and perhaps even the New York Stock Exchange. Other Chinese boards like Shenzhen’s ChiNext board and Beijing’s New Third Board claimed to be like NASDAQ, but investor response has not been as positive as had been hoped, and these earlier Chinese boards are not as deregulated and market-oriented as the STI Board purports to be. From the opening of the SSE stock market after Chinese New Year until the day before the finalized STI Board Rules were released, the Shanghai composite experienced its largest monthly gain since April 2015, and major banks like Credit Suisse predicted that Chinese markets would continue to prosper.[2] This suggests that investors welcome the finalized STI Board Rules. On February 11, 2019, V&T Law Firm (V&T) published an article that analyzed five characteristics of the draft STI Board Rules.[3] This client alert is an update based on the finalized STI Board Rules.

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[1] The terms “PRC” and “China” are used interchangeably in this client alert and neither includes Hong Kong, Macau, or Taiwan.

[2] Eustance Huang, “Credit Suisse on stocks: 'We love China at the moment',” CNBC China Markets, March 1, 2019, https://www.cnbc.com/2019/03/01/credit-suisse-on-stocks-we-love-china-at-the-moment.html.

[3] A V&T client alert regarding the draft version of the STI Board Rules is available at: http://www.vtlaw.cn/ueditor/php /upload/file/20190214/1550109008571307.pdf. This client alert is an update. 

China’s Version of NASDAQ ? Shanghai Stock Exchange to create Sci-Tech Innovation Board

March 2019 - Corporate & Commercial. Legal Developments by V&T Law Firm.

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February 11, 2019

Capital markets; foreign investment

The China Securities Regulatory Commission (CSRC) recently published guidelines for a new Sci-Tech Innovation Board (STI Board) that will be created at the Shanghai Stock Exchange (SSE).  The board will feature innovative scientific and technological enterprises, and some analysts claim that the STI Board might be able to compete with the Hong Kong Stock Exchange, NASDAQ, and perhaps even the New York Stock Exchange (NYSE).  In any event, this is one of the more major reforms that China’s stock markets have seen over the past 30 years. It will be easier to list innovative enterprises on the STI Board, as eligible companies can be listed by filing the required documentation with the SSE; the CSRC will be responsible only for the securities registration. But will the STI Board really be a Chinese version of NASDAQ? This client alert examines some of the new features of the STI Board and some of its more important listing procedures.

National Administrative Rules of Road Testing of Self-Driving Vehicles Promulgated----A Brief Commen

October 2018 - Finance. Legal Developments by JunHe LLP.

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National Administrative Rules of Road Testing of Self-Driving Vehicles Promulgated----A Brief Comment on Administrative Rules on the Administration of Road Testing of Intelligent Connected Vehicles

Brief Comment on Easing Restrictions on Foreign Investment in Automotive Manufacturing

October 2018 - Transport. Legal Developments by JunHe LLP.

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On April 10, 2018, President Xi Jinping attended the Boao Forum for Asia (“BFA”) Annual Conference 2018 and delivered a keynote speech stressing that “China will remain unchanged its adherence to reforming and opening up, and will continue to launch new, major measures to pursue further opening.” Following this speech, the National Development and Reform Commission (“NDRC”) published its Answers to Reports’ Questions Regarding Promulgating New Negative List of Foreign Investment (“Negative List”) and Opening-Up of the Manufacturing Industry (“Answers”) on the official website of the Central Government. Through this document, the NDRC expressed its efforts to accelerate its pace to formulate a new Negative List along with other relevant departments, which echoed the major measures mentioned in President Xi’s speech. It also stressed that the manufacturing industry will be the priority in the new Negative List, and easing the restrictions on foreign investment in the automotive industry will be the focus in this prioritized area.