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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

 

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.

More articles by this firm.

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.

All You Need to Know about the Application for Overseas Investment Projects

All You Need to Know about the Application for Overseas Investment Projects

- Key Points of NDRC Guidelines for Preparing Application for Overseas Investment Projects

The Impacts of the New Issued Regulation regarding IP Export

The Impacts of the New Issued Regulation regarding IP Export

Outbound IP Transfer

The Impacts of the New Issued Regulation regarding IP Export

The Impacts of the New Issued Regulation regarding IP Export

According to WIPO’s information, China has overtaken Japan to claim the second place as a source of Patent Cooperation Treaty (PCT) applications in the passed year.  In 2017, U.S.-based applicants numbered 56,624 PCT, followed by China (48,882) and Japan (48,208).  Another positive statistics comes from the State Administration of Foreign Exchange, which reveals the volume of trade of Chinese IP royalties totaled 33.384 billion USD in 2017, a 32.7 percent increase from 2016. 

JunHe Enabled Client’s Success in First Online Aircraft Auction in China

February 2018 - Transport. Legal Developments by JunHe LLP.

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On February 6, 2013, Jade Cargo International Airlines, the first Sino-foreign cargo airline company, filed for bankruptcy with Shenzhen Intermediate People's Court. Since October 26, 2015, the bankruptcy administrator of Jade Airlines has auctioned three self-owned Boeing 747 cargo airplanes offline on six different occasions, but all had failed. On September 19, 2017, the three airplanes were placed on online judicial auction platform operated by Alibaba with the court's approval. This is the first time that a bankruptcy estate has been auctioned online in accordance with rules promulgated by the Supreme People's Court of China with respect to online judicial auction.