The Legal 500
Webinars

Challenges and opportunities in China after Covid-19

17 June 2020, 4.00pm China Standard Time

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Challenges and opportunities in China after Covid-19

The Legal 500 and Dentons China hosted a webinar to explore imminent risks and future challenges in China, during and after Covid-19. 

The full agenda included:

 A summary of the most recent judicial interpretations

  • The Supreme Court’s comment on potential unilateral terminations due to Covid-19
  • Key points on labour dispute trials abstracted from the high courts of Beijing, Shanghai and Guangdong

Employer’s actions and options

  • Salary cut negotiations
  • Redundancy
  • Potential employer liabilities

Crisis management from a transactional perspective and the outlook for the ESG ecosystem 

  1. The impact of Covid-19 on cross-border corporate transactions
  • Foreign Direct Investment, ODI, overseas financing and capital market, and some common provisions as well as specific deal structures
  1. Common provisions of deal transactions
  • Recitals (signing parties, on-site to online execution, taking into account the laws and regulations of different jurisdictions for execution requirements)
  • Definitions of ‘business working days’
  • Representations and warranties: revisiting the accuracy of insurance
  • Conditions precedent and long-stop date: revisiting specific requirements of the counterparty (SOE, government approvals, no ‘gun jump’ filings)
  • Break-up fees: valuation melt-down during Covid-19
  • MAE: layoffs and new product lines
  • Force majeure
  • Dispute resolution: arbitration or court? Online or offline?
  1. Specific provisions of a typical transaction
  • The impact of new FDI laws on typical transactions (new 2020 FDI laws and simplified filing procedure, with different local practice, cross-border IP registration and protection)
  • ODI (bidding process, how DD is conducted during COVID-19, including environment and employment DD, insurance of representations and warranties, and payment schedule and merger loans)
  • Overseas PE/VC transactions (valuation adjustment mechanism in pre-IPO transaction documents, and QIPO definition)
  1. The ESG ecosystem
  • The trend toward an ESG (Environment, Society and Governance) eco-system in China
  • Disclosure requirements of the main stock exchange to reduce the due diligence costs and potential risks
  • Tax benefits
  • TRIPS protection and exemption (encourage to obtain IPs while promote public interest during Covid-19)

Articles

For more information on the speeches given please see the articles below:

  • ‘Key Points under PRC Employment and Labour Law during COVID-19’ – Shane Luo (English) (Chinese)
  • ‘Impact of COVID-19 on Cross Border Transactions’ – Willow Wei (English) (Chinese)

Speakers

  • Shane Luo, partner, Dentons
  • Willow Wei, counsel, Dentons