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Jones Day

32ND FLOOR CHINA WORLD TOWER 1, NO.1 JIANGUOMENWAI AVENUE, BEIJING 100004, CHINA
Tel:
Work +86 10 5866 1111
Fax:
Fax +86 10 5866 1122
Web:
www.jonesday.com

China: Corporate and M&A

Foreign firms
Corporate and M&A: foreign firms - ranked: tier 4

Jones Day 众达律师事务所

Jones Day’s practice in Greater China focuses on the firm’s core client base of industrial and manufacturing clients, while the China team also advises on oil and gas, mining, cleantech, TMT and private equity deals and has growing work in the automotive, aerospace, pharmaceuticals and retail industries. The team acted alongside Hong Kong colleagues for Shenzhen Energy Corporation on the $542m acquisition of CPT Wyndham Holdings, the owner of China Hydroelectric. Beijing-based department head John Kao and Jessie Tang are recommended, as are Shanghai-based Liming Yuan and of counsel Patrick Hu, and Angel Huang, who splits her time between Shanghai and Beijing. Ian Liao joined K&L Gates’ Shanghai office.

Leading individuals

John Kao - Jones Day

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China: Dispute resolution

Foreign firms
Dispute resolution: foreign firms - ranked: tier 2

Jones Day 众达律师事务所

Jones Day’s practice frequently acts in matters relating to IP, antitrust and energy. Recent cases include defending Wuxi Hisky Medical Technologies in patent cases filed against it by a competitor in Europe. Shanghai-based Michael Vella and Jerry Ling are recommended along with Haifeng Huang, who divides his time between Hong Kong and Beijing, and Peter Wang, who works from Shanghai and Beijing.

Leading individuals

Peter Wang - Jones Day

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China: Intellectual property

Foreign firms
Intellectual property: foreign firms - ranked: tier 2

Jones Day 众达律师事务所

Jones Day’s ‘deep, strong and responsive’ team excels in IP litigation. Shanghai-based Michael Vella has been defending Beijing-based medical devices company HISKY Medical Technologies in two patent cases brought against it by a European company, Echosens, regarding a diagnostic device to detect liver fibrosis. Clients recommend Hong Kong-based practice co-head Chiang Ling Li, who ‘has a treasure trove of industry knowledge and business acumen’. Fellow co-heads Tony Chen and Haifeng Huang are based in Shanghai and Beijing, respectively. Anita Leung left the firm.

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China: Private equity/venture capital

Foreign firms
Private equity/venture capital: foreign firms - ranked: tier 4

Jones Day 众达律师事务所

Jones Day has a rounded private equity practice and the team recently advised on the China-Hong Kong aspects of XIO Group’s secondary LBO of the Compo Expert business, a supplier of specialty fertiliser products, which it purchased from Triton Partners. Partner-in-charge John Kao is recommended.

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China: Projects and energy

Foreign firms
Projects and energy: foreign firms - ranked: tier 3

Jones Day 众达律师事务所

Jones Day’s ‘very responsive and service-oriented’ team covers the full range of project work, including financing, M&A, structuring and dispute resolution. Clients recommend Hong Kong-based co-head Ben McQuhae, who advised Ophir Energy on its portfolio acquisition of five Indonesian controlling interests from Niko Resources, including a number of closings in London, Cyprus and Hong Kong. John Kao and Graham Lim (respectively based in Beijing and Hong Kong) advised Shenzhen Energy on its $542m acquisition of CPT Wyndham Holdings, the owner of China Hydroelectric, from a consortium of investors led by NewQuest Capital Partners. The other practice co-heads are Maria Tan Pedersen in Hong Kong, and former King & Wood Mallesons partners Dirk Walker and Dina Yin in Beijing.

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China: Tax

Foreign firms
Tax: foreign firms - ranked: tier 3

Jones Day 众达律师事务所

Led by Fuli Cao in Beijing, Jones Day’s tax team has been increasingly handling cross-border M&A and indirect transfer issues. Cao advised Quintiles on the Chinese aspects of its joint venture with Quest Diagnostics, including a direct and indirect transfer of a Chinese subsidiary to the joint venture. Clients include Micron Technology, ConAgra Foods and Honeywell. Shanghai-based Liming Yuan is recommended.

Leading individuals

Fuli Cao - Jones Day

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Legal Developments by:
Jones Day

  • US rules regarding offshore accounts

    The Hiring Incentives to Restore Employment Act 2010, enacted on 18 March 2010, imposes a new US withholding tax and reporting regime, known as the Foreign Account Tax Compliance Act (FATCA). The FATCA regime applies generally to payments made after 31 December 2012, except on obligations (to be defined in future guidance) outstanding on 18 March 2012. Substantial effort is required by foreign entities to bring their worldwide operations and policies into compliance with the FATCA rules as of the effective date.

    - Jones Day

Legal Developments in China

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • What is the relationship between PPP and concessions?

    From fledgling concessions to PPP that is sweeping the country today, there are two major sets of regulations to be followed: one being regulations for concessions led by the National Development and Reform Commission (“NDRC”) and the other the series of regulations for PPP led by the Ministry of Finance (“MoF”).  However, to date, there is still not one law that expressly defines the relationship between the two, resulting in much confusion and many impediments in practice.  The relationship between concessions and PPP is an issue currently desperately needing clarification.
  • Thought on Developing Convention on Enforceability of Settlement Agreements Reached Through Concilia

    The UN Commission on International Trade Law (“UNCITRAL”) held its 47th session in New York on 7-18 July 2014 and the Author had the privilege of attending the conference at invitation of Mr. Yu Jianlong, President of the Asia Pacific Regional Arbitration Group (“APRAG”). During the conference, the U.S. Government submitted a proposal suggesting Working Group II (Arbitration and Conciliation) of UNCITRAL (“Working Group II”) to develop a multilateral convention with respect of the enforceability of international commercial settlement agreements reached through conciliation (“Enforceability Convention”) for the purpose of encouraging the use of conciliation in resolving international commercial disputes.  Read more
  • Impact of Article 43 of the Commercial Bank Law on PPP Projects

    With the widespread use of the PPP model in China, financing channels for PPP projects have also increasingly diversified.  Bank, trust, fund and insurance channels of capital have all rushed onto the stage of project financing. Subject to Article 43 of the Commercial Bank Law, banks, as the traditional big brother of financing, have always played the role of lender.  In practice, the opinions as to whether they can participate in the bidding on, and contributing capital to, PPP projects as private investors have been mixed.
  • A LOOK BACK AND THOUGHTS ON PPP LEGAL PRACTICE IN CHINA IN 2015

    The current PPP tide in China driven by the Ministry of Finance and the National Development and Reform Commission witnesses the transformation and upgrading of large state-owned enterprises.  These enterprises that have traditionally only been familiar with bid invitation, bid submission, and construction, have started to have an impact on numerous new areas such as project proposal and planning, company establishment and acquisition, fund establishment and operation, etc.  Certain state-owned enterprises that got their starts fairly early have cultivated teams with extensive experience in investing, and certain enterprises that are just starting up are selecting young talent from various entities in all out effort to catch up.  Private enterprises also participate enthusiastically.
  • Transfer Pricing – New Risks in Declaring Price Impact of Special Relationship to China Customs

    China Customs recently requires that the importer or exporter of record declare the impact on the import or export price of its special relationship with the counterpart (“Price Impact”). Specifically the declaring party must state whether its special relationship, if any, would affect the transaction value or price as declared to the China Customs. Previously the special relationship was an item of declaration subsequent to a specific request from the Customs. However, the impact of the special relationship was not an item of declaration, and the declaration party even had a general defense right to disprove such Price Impact. The Price Impact, if any, has been a pre-condition for  the Customs not to accept the declared transfer price for the purpose of ascertaining dutiable price of a given import or export shipment, in which case, China Customs shall re-value the given shipment according to China customs valuation rules.
  • New China Customs Taxation Policy on Cross-Border B2C E-Commerce Imports

    The Ministry of Finance, General Administration of Customs and State Administration of Taxation of China jointly issued a circular (“Joint Circular ”) relating to the taxation policy on the cross-border e-commerce retailing imports, with effect as from April 8, 2016.
  • ICC and CIETAC Arbitration Practice Comparison - Case Study Note 1

    One of the most important negotiated points by parties in contract negotiations is the dispute resolution clause. If parties agree on arbitration, they often negotiate which arbitration institution or arbitration rules will apply in resolving potential disputes.
  • Interpretation of New Anti-monopoly Provisions in the Field of Intellectual Property Rights:

    Ren Qing and Wu Peng, Partners in Zhong Lun Law Firm
  • POTENTIAL CHANGE OF CHINA’S FOREIGN INVESTMENT LAWS AND ITS EFFECT ON VIE STRUCTURES

    By Steve Zhao
  • Zhong Lun Advises Chinese Consortium on $1.9 Billion Acquisition of OmniVision Technologies, Inc.

    On April 30, 2015, OmniVision Technologies, Inc. (OVTI, a Delaware company listed on NASDAQ) announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co. Ltd. (“Hua Capital Management”), CITIC Capital Holdings Limited (“CITIC Capital”) and GoldStone Investment Co. Ltd. (“GoldStone Investment”) (collectively, the “Consortium”). Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion. The agreement was unanimously approved by OmniVision’s Board of Directors.