The definition of "Prospectus" in Section 2(1) of the <I>Companies Ordinance</I> (Cap 32) (the "CO") has been amended with effect from 3 December 2004 in accordance with the <I>Companies (Amendment) Ordinance 2004</I> to exclude the documentation for 12 types of offer set out in the new Seventeenth Schedule to the CO ("the New Schedule").

Some of you may have seen or heard a recent TV or radio commercial in Hong Kong in which three famous TV stars announce that the names of the "Lingzhi" Chinese herb products which they have been promoting in a series of advertisements over the last two years have now been changed to "2036".

The relevation of the sale of customers’ personal data by Octopus Holding Ltd, the leading electronic payment company in Hong Kong, to third party business partners for direct marketing purposes has sparked widespread public concerns over major privacy breaches by personal data collectors here.

On 2 November 2005, the Legislative Council in Hong Kong passed the Revenue (Abolition of Estate Duty) Bill 2005 seeking to amend the Estate Duty Ordinance ("EDO") with a view to abolish estate duty in Hong Kong.

In August 2008, the People’s Republic of China ("PRC") implemented the Anti-Monopoly Law (the “AML”).

In response to mounting calls for liberalization of its lucrative securities industry to foreign investors, the China Securities Regulatory Commission ("CSRC") revised the Rules on Establishment of Securities Companies with Foreign Equity Participation on 28 December 2007 (the "Revised Rules") and issued the Provisions for the Establishment of subsidiaries of Securities Companies (Trial Implementation).

The total foreign investment into China for the first 9 months of 2007 amounted to about US$47 billion, an increase of 10.9% from 2006.

In late 2005, the largest airline company in Hong Kong, Pacific Airways Limited (CX), implemented a programme requiring its cabin crew members who took long or frequent sick leave to disclose their medical records in the past 12 months.

A Citibank led consortium won the bid for 85.6% of Guangdong Development Bank in December 2006 for RMB24.27 billion, ending a long battle with rivals French Bank Societe Generale and China’s second largest insurer Ping An Group. The deal coincides with the changes to rules governing foreign banks in China.

The spectacular collapse of the Guangdong International Trust and Investment Corporation ("GITIC") in 1999 leaving over US$2 billion of irrevocable loans highlighted some of the deep-rooted problems of corporate governance in the PRC and the need for urgent reforms.

On 21 October 2005, SAFE issued a new circular on "Relevant Issues Concerning Foreign Exchange Control on Domestic Residents' Corporate Financing and Roundtrip Investment Through Offshore Special Purpose Vehicles" ("Circular 75"), effective 1 November 2005.

Whilst the Taiwanese authorities’ investigations into possible insider dealing in securities on the part of family members of President Chen have caused widespread political instability on the Island, it is noteworthy that in Hong Kong insider dealing is both a civil wrong and a crime under the Securities and Futures Ordinance ("SFO").

The Hong Kong Toys and Games Fair is the second largest toy fair in Asia. In 2007, it was held in early January at the Hong Kong Convention and Exhibition Centre with over hundreds of exhibitors participating. One of the exhibitors, COG Limited, which is a reputable designer and manufacturer of educational toy experiments ("the Exhibitor"), noticed one of the other exhibitors in the Fair, Eastcolight (Hong Kong) Limited ("the Infringer"), had exhibited a series of products that were virtually or

In Hong Kong unless you are poor enough and your case has enough merits to qualify for legal aid under the Legal Aid Scheme, it is often too expensive to instruct barristers and solicitors under the split profession system to litigate disputes.

As at the end of August 2008, there were 65 “Qualified Foreign Institutional Investors” (“QFII”) approved in China.

Since the early 1990s, China has maintained a dual income tax system for foreign invested enterprises ("FIEs") and domestic enterprises. Preferential tax treatment like lower tax rates, tax deductions and tax holidays offered to FIEs was designed to attract foreign investments to China.

The Stock Exchange of Hong Kong Limited announced various minor and housekeeping amendments to the Main Board Listing Rules and GEM Listing Rules on 17 February 2006. The amendments come into effect on 1 March 2006.

To promote the expansion of PRC companies domestically and internationally by mergers and acquisitions in the current global economic crisis, the China Banking Regulatory Commission has promulgated the "Guidelines on Risk Management for Loans extended by Commercial Banks for Mergers and Acquisitions" (the "Guidelines") on 6 December 2008.

China State Administration of Foreign Exchange ("SAFE") issued the "Circular on Issues Relevant to Improving the Foreign Exchange Administration Regarding Mergers & Acquisitions by Foreign Investors" ("January Circular") on 24 January 2005 and the "Circular on Issues Relevant to Registration Regarding Foreign Investment by Domestic Residents and Foreign Exchange Registration Regarding Mergers & Acquisitions by Foreign Investors" ("April Circular") on 21 April 2005.

In April 1998, China ordered an immediate ban on almost all direct marketing, a move which closed the multimillion-dollar market for many direct marketing giants.